Piper Jaffray Assumes/Upgrades Intel (INTC) to Overweight
- Wall Street rallies as OPEC reaches output deal
- Pier 1 Imports (PIR) Reports In-Line Q2 EPS; Comps Fall 4.3%
- Intra-Cellular Therapies (ITCI) Announces ITI-007 Phase 3 Missed Primary Endpoint in Schizophrenia
- Vertex Pharma (VRTX) Announces FDA Approval for ORKAMBI in Children 6-11; Lowers 2016 ORKAMBI Revenue Outlook
- After-Hours Stock Movers 09/28: (AEGR) (PIR) (GSAT) Higher; (ITCI) (ATNM) (PRGS) Lower (more...)
(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
- UPDATE: UBS Upgrades Hi-Crush Partners LP (HCLP) to Neutral
- UBS Cuts Price Target on Nike (NKE) to $67 Following 1Q Report
- Morgan Stanley Upgrades AutoZone (AZO) to Overweight; Analyst Highlights Number of Vehicles Over 7 Years Old
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!