RBC Capital Boosts Estimates, Price Target on Intel (INTC) Ahead of Q1 Results
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Rating Summary:
23 Buy, 25 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
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RBC Capital raised estimates and its price target on Outperform-rated Intel (NASDAQ: INTC) from $30 to $33 ahead of Q1 earnings on April 17th.
Analyst Doug Freedman believes the mid-point of Intel's guidance, or $12.8bil (range $12.3bil-$13.3bil), proves to be a low-bar driven primarily by Romley strength, as they believe Enterprise and Data Center markets remain strong.
He raised Q1 revenue/EPS estimate to $13.06bil/$0.55 versus prior $12.67bil/$0.50 and Street $12.83bil/$0.50.
For Q2, upside could be driven by impact from Ivy Bridge introduction the coming week. "Due to a delayed launch, we believe initial unit shipments will be material and result in a favorable ASP mix in the quarter and into a seasonally stronger selling season," the analyst said.
Q2 revenue/EPS estimate was raised to $13.52bil/$0.58 vs. prior $13.18bil/$0.54 and Street $13.40bil/$0.54.
For an analyst ratings summary and ratings history on Intel click here. For more ratings news on Intel click here.
Shares of Intel closed at $27.76 yesterday, with a 52 week range of $19.16-$28.45.
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Analyst Doug Freedman believes the mid-point of Intel's guidance, or $12.8bil (range $12.3bil-$13.3bil), proves to be a low-bar driven primarily by Romley strength, as they believe Enterprise and Data Center markets remain strong.
He raised Q1 revenue/EPS estimate to $13.06bil/$0.55 versus prior $12.67bil/$0.50 and Street $12.83bil/$0.50.
For Q2, upside could be driven by impact from Ivy Bridge introduction the coming week. "Due to a delayed launch, we believe initial unit shipments will be material and result in a favorable ASP mix in the quarter and into a seasonally stronger selling season," the analyst said.
Q2 revenue/EPS estimate was raised to $13.52bil/$0.58 vs. prior $13.18bil/$0.54 and Street $13.40bil/$0.54.
For an analyst ratings summary and ratings history on Intel click here. For more ratings news on Intel click here.
Shares of Intel closed at $27.76 yesterday, with a 52 week range of $19.16-$28.45.
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