Kaufman Bros. Downgrades Intel (INTC) to Hold; Lack of Margin Leverage; Lack of Upside to Stock

Kaufman Bros. downgraded Intel (NASDAQ: INTC) to Hold, price target raised $1 to $26.00.

Kaufman analyst says, "Lack of margin upside is the biggest driver of our downgrade. More specifically, given Intel is predicting a 1Q12 gross margin in the 63% range (GAAP) and guided its full-year 2012 gross margin to ~64% (GAAP) suggests to us that there is not much margin leverage ahead in 2012. In addition, we see the 4Q11 rise in inventory dollars as a headwind to Intel's gross margin."

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 $25.63 yesterday.

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