Citadel Securities Reiterates an 'Add' on Intel (INTC); Sales and EPS Ahead of Estimates
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Price: $102.50 -1.97%
Rating Summary:
24 Buy, 39 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
24 Buy, 39 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Citadel Securities reiterates an 'Add' on Intel (NASDAQ: INTC), PT raised by $1 to $28.
Citadel analyst said, "The positives notwithstanding, we’d be remiss to not highlight an increase in expense growth and capex, with both metrics slated to come in roughly 3% higher than prior expectations for the year. The resulting decline in operating leverage is likely to leave some less than completely happy. Still, with Street EPS estimates likely to see a 5-7% move higher yet again, leaving the stock at ~8x 2012 EPS estimates, with a nearly 3.5% dividend yield to boot, we think the expense growth is a minor transgression that can be overlooked. Consequently, we are reiterating our rating, and would look to add to positions at current levels."
"Given the higher trajectory to sales, we are raising our 2011 and 2012 EPS estimates to $2.40 and $2.55 respectively, from $2.25 and $2.40 prior."
For more ratings news on Intel click here and for the rating history of Intel click here.
Shares of Intel closed at $23.06 yesterday.
Citadel analyst said, "The positives notwithstanding, we’d be remiss to not highlight an increase in expense growth and capex, with both metrics slated to come in roughly 3% higher than prior expectations for the year. The resulting decline in operating leverage is likely to leave some less than completely happy. Still, with Street EPS estimates likely to see a 5-7% move higher yet again, leaving the stock at ~8x 2012 EPS estimates, with a nearly 3.5% dividend yield to boot, we think the expense growth is a minor transgression that can be overlooked. Consequently, we are reiterating our rating, and would look to add to positions at current levels."
"Given the higher trajectory to sales, we are raising our 2011 and 2012 EPS estimates to $2.40 and $2.55 respectively, from $2.25 and $2.40 prior."
For more ratings news on Intel click here and for the rating history of Intel click here.
Shares of Intel closed at $23.06 yesterday.
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