Nomura Securities Cuts Price Target on Intel (INTC) Following 3Q Report
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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."
Shares of Intel closed at $37.75 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesNomura, Earnings
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