Nomura Securities Maintains a 'Reduce' on Intel (INTC); Mobile Update from CES

Nomura Securities maintains a 'Reduce' on Intel (NASDAQ: INTC) price target of $21.00.

Nomura analyst, Romit Shah, said, "Intel demonstrated the first Android smartphone running on the x86- architecture. The Lenovo K800 is based on the Medfield platform, which uses a low-power, 32nm Atom processor running at 1.6GHz. The phone will launch on China Unicom’s network and will ship in 2Q12. Intel also announced a multi-year, multi-device partnership with Motorola (NYSE: MMI). Furthermore, the company announced the availability of smartphone and tablet reference platforms based on the Medfield SoC."

For an analyst ratings summary and ratings history on Intel click here. For more ratings news on Intel click here.

Shares of Intel closed at $25.59 yesterday.

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