Intel (INTC) PT Bumped to $33 at Nomura Securities

Nomura Securities analyst Romit Shah raised his price target on Neutral-rated Intel (NASDAQ: INTC) to $33.00 (from $31.00) following results, which he called "solid."

Shah commented, "It is remarkable that, despite the destruction in PCs, Intel is guiding to record revenues in the third period. And at the same time, deliver better gross margin, lower capex and higher cash flow. We remain Neutral in the stock, but are raising our price target to $33."

Q3 EPS of $0.61 remains unchanged. CY15 and CY16 EPS are increased from $2.11 to $2.18 and $2.20 to $2.30, respectively.

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 $29.69 yesterday.

You May Also Be Interested In

• Merck (MRK) PT Raised to $143 at Truist Securities
• Teradyne (TER) PT Raised to $125 at TD Cowen
• Macquarie Upgrades ASM Pacific Technology (522:HK) (ASMVY) to Outperform