FBR Capital Downgrades Intel (INTC) to Market Perform; Switching Into AMD (AMD) - Risk/Reward Now Appears Favorable
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Price: $34.50 --0%
Rating Summary:
21 Buy, 32 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 10 | New: 6
Rating Summary:
21 Buy, 32 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 10 | New: 6
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FBR Capital downgraded Intel (NASDAQ: INTC) from Outperform to Market Perform.
FBR analyst says, "We are switching out of Intel (downgraded to MP) and into AMD (NYSE: AMD) (upgrading from to OP) following checks that suggest AMD should gain both desktop and notebook processor market share in 2H11 at HP and Acer. Further, we previously said we like AMD closer to $7, and shares have mostly retraced there. While we are not "negative" on INTC at $22, shares have herculean difficulties breaking out above $24, and after a period of outperformance in a down tape, it seems appropriate to overweight AMD while shares are depressed ahead of possible 2H11 Fusion goodness."
For more ratings news on Intel click here and for the rating history of Intel click here.
Shares of Intel closed at $21.42 yesterday.
FBR analyst says, "We are switching out of Intel (downgraded to MP) and into AMD (NYSE: AMD) (upgrading from to OP) following checks that suggest AMD should gain both desktop and notebook processor market share in 2H11 at HP and Acer. Further, we previously said we like AMD closer to $7, and shares have mostly retraced there. While we are not "negative" on INTC at $22, shares have herculean difficulties breaking out above $24, and after a period of outperformance in a down tape, it seems appropriate to overweight AMD while shares are depressed ahead of possible 2H11 Fusion goodness."
For more ratings news on Intel click here and for the rating history of Intel click here.
Shares of Intel closed at $21.42 yesterday.
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