Nomura Securities Raises Price Target on Intel (INTC) to $42
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Nomura Securities reiterated a Buy rating on Intel (NASDAQ: INTC), and raised the price target to $42.00 (from $38.00). Intel raised its 3Q revenue expectations to $15.6b compared with its previous guidance of $14.9b, implying an EPS of $0.72 vs. Nomura's prior expectation of $0.66.
Analyst Romit Shah commented, "Intel (Buy) increased its 3Q guidance on Friday due to a PC supply chain refresh and improving PC demand. We remain positive on shares as momentum in PCs and better performance in datacenter should drive estimates higher again in October. Our PT moves from $38 to $42."
Shares of Intel closed at $37.67 yesterday.
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