Mizuho Securities Raises Price Target on Intel (INTC) to $42; Reiterates Buy
- Wall Street falls as investors ready for Trump's inauguration
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
- Skyworks Solutions (SWKS) Tops Q1 EPS by 3c, Offers Q2 Guidance, Announces Buyback
- After-Hours Stock Movers 01/19: (SWKS) (QRVO) (NVAX) Higher; (AFMD) (SGYP) (IBM) Lower (more...)
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Mizuho Securities reiterated a Buy rating on Intel (NASDAQ: INTC), and raised the price target to $42.00 (from $38.00), following the company's September quarter preannouncement. INTC raised its midpoint of revenue expectations ~5%, from $14.9B to $15.6B due to PC inventory replenishment and better PC demand.
Analyst Vijay Rakesh commented, "INTC preannounced positively for the SepQ, raising the revenue and GM outlook citing replenishment of PC supply chain inventory and better demand. We believe in 2H16 INTC could see more tailwinds from improving data center orders which would be positive for the computing ecosystem for MU, WDC, and ON as well. We believe the updated guidance reflects a ~$0.10-$0.11 improvement in GAAP EPS. We are updating our INTC estimates, reiterating our Buy rating, and raising our PT to $42."
Shares of Intel closed at $37.67 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Goldman Sachs (GS) PT Raised to $256.00 at Oppenheimer Following 4Q Report
- IBM (IBM) PT Raised to $144 at Barclays, Says Funamentals Starting To Stablize In Midst Of Persistent Headwinds
- Goldman Sachs Upgrades Emerge Energy Services LP (EMES) to Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!