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UPDATE: Morgan Stanley Starts Intel (INTC) at Underweight

May 31, 2012 6:55 AM EDT Send to a Friend
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(Updated - May 31, 2012 7:48 AM EDT)

Shares of Intel (NASDAQ: INTC) are indicated to open fractionally lower Thursday after Morgan Stanley initiated coverage with a Underweight rating, the firm's equivalent to a "Sell."

The firm sees limited earnings growth through 2014 as ASPs stop rising, unit growth slows and cost rise.

Morgan Stanley's analyst sees EPS going from $2.53 in 2011, to $2.37 in 2014; which is well below the 2014 consensus of $2.90.

At the same time the firm is bullish on Analog Devices (NYSE: ADI), Maxim (Nasdaq: MXIM) and SanDisk (Nasdaq: SNDK) - launching coverage on each at Overweight.

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 $26.13 yesterday.




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