Piper Jaffray Assumes/Upgrades Intel (INTC) to Overweight
- AbbVie (ABBV) to Acquire Pharmacyclics (PCYC) for $21 Billion
- Market Wrap: Job Additions Light in Feb.; McDonald's Plans Better Product Sourcing; Lumber Liquidators Chopped Again
- Etsy (ETSY) Files $100 Million IPO
- After-Hours Stock Movers 03/04: (RNDY) (PEIX) (PCYC) Higher; (SMTC) (VNDA) (ECA) Lower (more...)
- ADP Employment Change 212K vs 219K Expected
(Updated - April 3, 2014 7:43 AM EDT)
Piper Jaffray assumed/upgraded Intel (NASDAQ: INTC) from Neutral to Overweight with a price target of $30.00.
Analyst Ruben Roy comments, "We are assuming coverage of INTC shares with an Overweight rating and a $30 price target. We expect the PC market stabilization that became evident during the latter part of 2013 to continue in 2014. From a longer-term perspective, we believe that INTC continues to position itself to benefit from data center market growth. We also believe that INTC is making strides on the mobile processor front and, while profitability for the business will likely remain a headwind for some time, we do expect INTC to gain market share traction in 2014 and improve profitability in 2015."
Shares of Intel closed at $25.99 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Orexigen Therapeutics (OREX) Price Target Raised to $26 at Piper
- Boot Barn (BOOT) an Attractive Multi-Year Growth Story, Piper Jaffray Says; Price Target Raised
- BTIG Upgrades T-Mobile US, (TMUS) to Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Upgrades, Upgrades
Related EntitiesPiper Jaffray
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!