UBS Reiterates a 'Buy' on Intel (INTC); Staying Positive, But Adjusting 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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UBS reiterates a 'Buy' on Intel (NASDAQ: INTC) price target of $33.00 (from $34.00).
Analyst, Steven Eliscu, said, "UBS's Global PC Hardware team lowered its PC unit growth forecast, detailed in the Global I/O note, “Waiting for Windows 8?” – 2012/13 to -1.3%/+4.5% from +3.4%/+6.3% with -1.2%/-0.2% desktop (from +1.3%/+2.1%) and -1.4%/+8.1% notebook (from +5.0%/+9.3%). The team expects 3Q notebook unit growth to be sub-seasonal at +3.7% q/q, followed by Win 8 (Nasdaq: MSFT) driven +12.1% q/q in 4Q. Reflecting the lowered PC outlook, we trim our Intel estimates and PT. As we continue to expect strong server processor growth and resilient client processor average selling prices on product cycle strength, we reiterate our rating."
FY12 EPS estimate lowered from $2.44 to $2.40 and FY13 from $2.54 to $2.46. For 2013/14, UBS lowers sales estimates by 2% to $59.0bn/$62.2bn and EPS estimates by 3% to $2.46/$2.62.
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 $24.39 yesterday.
Analyst, Steven Eliscu, said, "UBS's Global PC Hardware team lowered its PC unit growth forecast, detailed in the Global I/O note, “Waiting for Windows 8?” – 2012/13 to -1.3%/+4.5% from +3.4%/+6.3% with -1.2%/-0.2% desktop (from +1.3%/+2.1%) and -1.4%/+8.1% notebook (from +5.0%/+9.3%). The team expects 3Q notebook unit growth to be sub-seasonal at +3.7% q/q, followed by Win 8 (Nasdaq: MSFT) driven +12.1% q/q in 4Q. Reflecting the lowered PC outlook, we trim our Intel estimates and PT. As we continue to expect strong server processor growth and resilient client processor average selling prices on product cycle strength, we reiterate our rating."
FY12 EPS estimate lowered from $2.44 to $2.40 and FY13 from $2.54 to $2.46. For 2013/14, UBS lowers sales estimates by 2% to $59.0bn/$62.2bn and EPS estimates by 3% to $2.46/$2.62.
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 $24.39 yesterday.
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