Needham & Company Maintains a 'Buy' on Intel (INTC); Is It 2H10 Déjà vu?
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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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Needham & Company maintains a 'Buy' on Intel (NASDAQ: INTC), PT $25.
Needham analyst says, "Intel reported a 2nd straight beat and raise quarter, defying a growing number of cautious data points that suggested the contrary. Our confidence in Intel’s outlook has increased as the company has reigned in PC unit growth expectations this year and because revenue growth is expected to be driven by mix and blended ASPs, rather than unit strength. Intel reduced its PC unit forecast to 8%-10% in 2011, still above 3rd party researchers, but a much more reasonable assumption and we continue to believe Intel will prove more accurate given its emerging markets reach."
"We maintain our rating and price target given our increased confidence that mix and ASPs, more so than unit growth, are behind INTC’s outlook. However, we expect weak consumer PC sales and tablet cannibalization fears to remain
overhangs."
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.
Needham analyst says, "Intel reported a 2nd straight beat and raise quarter, defying a growing number of cautious data points that suggested the contrary. Our confidence in Intel’s outlook has increased as the company has reigned in PC unit growth expectations this year and because revenue growth is expected to be driven by mix and blended ASPs, rather than unit strength. Intel reduced its PC unit forecast to 8%-10% in 2011, still above 3rd party researchers, but a much more reasonable assumption and we continue to believe Intel will prove more accurate given its emerging markets reach."
"We maintain our rating and price target given our increased confidence that mix and ASPs, more so than unit growth, are behind INTC’s outlook. However, we expect weak consumer PC sales and tablet cannibalization fears to remain
overhangs."
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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