Nomura Securities Cuts Price Target on Intel (INTC) Following 3Q Report
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Brean Capital Cuts Price Target on G-III Apparel Group (GIII) Following 3Q Miss
- JPMorgan Raises Rating on CBOE Holdings (CBOE) to 'Overweight'; Analyst Thinks Bats Technology Will Drive Greater Trading Activity
- Jefferies Cuts Price Target on Kroger (KR) to $30 Following 3Q and Guidance
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesNomura, Earnings
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!