Nomura Securities Maintains a 'Reduce' on Intel (INTC); Looking Even Further Down the Rabbit Hole
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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 of $22.00.
Analyst, Romit Shah, said, "While Intel lowered the bar on Friday, we believe there is further downside risk to the Street’s estimate of $2.33 for 2013. Our current estimate is $2.00. The difference between our estimate and consensus is likely due to notebook shipments, which we believe face several headwinds in 2013. The macro environment remains weak, but we also believe that emerging markets are buying tablets. The elevated price points are well understood; however, our research also indicates that the devices are far from flawless. Overall, we believe there is still potential downside risk to estimates. That is not, in our view, discounted in the shares, which on enterprise value to free cash flow (11x) trade at a 20% premium to other large cap technology names."
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 $24.19 yesterday.
Analyst, Romit Shah, said, "While Intel lowered the bar on Friday, we believe there is further downside risk to the Street’s estimate of $2.33 for 2013. Our current estimate is $2.00. The difference between our estimate and consensus is likely due to notebook shipments, which we believe face several headwinds in 2013. The macro environment remains weak, but we also believe that emerging markets are buying tablets. The elevated price points are well understood; however, our research also indicates that the devices are far from flawless. Overall, we believe there is still potential downside risk to estimates. That is not, in our view, discounted in the shares, which on enterprise value to free cash flow (11x) trade at a 20% premium to other large cap technology names."
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 $24.19 yesterday.
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