Wedbush Assumes Coverage on Intel (INTC) at Neutral; Computing Giant Integrates New Parts & Tackles Rapidly Growing Markets

Wedbush assumes coverage on Intel (NASDAQ: INTC) with a Neutral (from Outperform). PT $25 (from $27).

Wedbush analyst says, "While we believe the uncertain macro outlook will likely weigh on the stock in the near-term, as we look beyond these industry wide challenges, we think Intel will trade in-line with our universe as the computing giant (1) integrates new businesses, (2) creates a new category in the traditional notebook/tablet market with “Ultrabooks”, and (3) makes its bid to be a player in the rapidly growing smartphone and tablet markets with its x86 architecture against the incumbent ARM-based CPUs."

For more ratings news on Intel click here and for the rating history of Intel click here.

Shares of Intel closed at $22.28 yesterday.

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