Piper Jaffray Assumes/Upgrades Intel (INTC) to Overweight
- Wall St. logs biggest two-day gain since financial crisis
- Market Wrap: Revised Q2 GDP Outpaces; Icahn Gets Active on Freeport; Facebook Surpasses User Milestone
- Carl Icahn files 13D on Freeport-McMoran (FCX)
- Autodesk (ADSK) Tops Q2 EPS by 2c; Issues Light Q3 Outlook
- After Hours Stocks Movers 08/27: (FCX) (ATVI) (UAL) Higher; (VNEM) (BEBE) (ADSK) (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
- Piper Jaffray Raises Price target on Williams-Sonoma (WSM) Following In-Line EPS
- UPDATE: Stifel Upgrades CSX (CSX) to Buy
- Greatbatch (GB) to Acquire Lake Region Medical in ~$1.73B Deal
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!