Nomura Securities Maintains a 'Reduce' on Intel (INTC); Delivered A Very Good Quarter
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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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Nomura Securities maintains a 'Reduce' on Intel (NASDAQ: INTC) price target raised from $18 to $21.
Nomura analyst, Romit Shah, said, "Revenues were above guidance, gross margins improved, and inventories declined, but shares are up over 20% from August lows. Moreover, margins are near a peak and the discrepancy in growth between Intel (+28% YoY) and the semi industry (+2% YoY) seems unprecedented. To us, it is a matter of timing. As a result of a better revenue outlook, we are raising our Q4 estimates from $13.5bn/$0.57 to $14.5bn/$0.69. Our 2012 EPS estimate increases from $2.00 to $2.40. Our target price increases from $18 to $21, which is based on 9x our revised CY12 EPS estimate of $2.40."
For more ratings news on Intel click here and for the rating history of Intel click here.
Shares of Intel closed at $23.40 yesterday.
Nomura analyst, Romit Shah, said, "Revenues were above guidance, gross margins improved, and inventories declined, but shares are up over 20% from August lows. Moreover, margins are near a peak and the discrepancy in growth between Intel (+28% YoY) and the semi industry (+2% YoY) seems unprecedented. To us, it is a matter of timing. As a result of a better revenue outlook, we are raising our Q4 estimates from $13.5bn/$0.57 to $14.5bn/$0.69. Our 2012 EPS estimate increases from $2.00 to $2.40. Our target price increases from $18 to $21, which is based on 9x our revised CY12 EPS estimate of $2.40."
For more ratings news on Intel click here and for the rating history of Intel click here.
Shares of Intel closed at $23.40 yesterday.
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