Nomura Securities Cuts Price Target on Intel (INTC) Following 3Q Report

October 19, 2016 8:33 AM EDT
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Price: $37.59 +2.23%

Rating Summary:
    42 Buy, 20 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 18 | New: 11
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Nomura Securities maintained a Buy rating on Intel (NASDAQ: INTC), and cut the price target to $40.00 (from $42.00), following the company's 3Q earnings report. Intel reported revenue and EPS of $15.8b and $0.80, higher than both estimates of $15.6b and $0.72. INTC guided revenue to $15.7b, below seasonality, vs. estimates of $16.1b.

Analyst Romit Shah commented, "Notwithstanding a strong Q3, which came in much better than mgmt. originally guided, we believe investors likely walk away from the call concerned about DCG growth when Cloud (+32% yoy) takes a breather. We remain Buy-rated but lower our target from $42 to $40."

For an analyst ratings summary and ratings history on Intel click here. For more ratings news on Intel click here.

Shares of Intel closed at $37.75 yesterday.

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