Citi Reiterates a 'Buy' Rating on Intel Corp (INTC)
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Citi reiterates a 'Buy' rating on Intel Corp (Nasdaq: INTC). Price target $20.
Citi analyst says, "Given better-than-expected gross margin performance, we suspect Intel's results may stimulate a modest rally in the shares. But with much uncertainty about near-term demand conditions (indeed we model below guidance), we expect the shares to remain largely range-bound. Our analysis suggests realistic earnings potential in 2009 is $1.33, from which we derive a $20 price target. Representing 29% ETR from the close, we reiterate our 12-month Buy rating."
Intel Corporation is a semiconductor chip maker, developing advanced integrated digital technology products, primarily integrated circuits, for industries, such as computing and communications.
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