UPDATE: RBC Capital Upgrades Intel (INTC) to Outperform, Sees Improvement in Mobile
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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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(Updated - May 6, 2013 7:07 AM EDT)
RBC Capital upgraded Intel (NASDAQ: INTC) from Sector Perform to Outperform with a price target of $29.00 (from $24.00). Analyst Doug Freedman sees 2013 gross margins, increasing traction of Intel's ultra-moblie platform, and an all-time bottom with PC sentiment.
"We do believe that due to the roll-off of start-up costs and bonus back of inventories, gross margins can move higher with limited revenue growth in 2HCY13. As a result, our gross margin assumption for 2013 of 60.7% is higher vs. Street at 59.2%,' said Freedman.
"Traction in mobile is upcoming, as the magnitude of design wins may be surprising
to investors. We feel that even ahead of a more compelling leading-edge 14nm line-up in 2014, Intel is today receiving a lot of interest from OEMs. There has been feedback from our handset ecosystem checks suggesting that Intel's 2014 ultra-mobile platform may be their best yet. This is especially encouraging given that the expectation on Intel.s success in ultra-mobile is very low," added the analyst.
For an analyst ratings summary and ratings history on Intel (NASDAQ: INTC) click here. For more ratings news on Intel click here.
Shares of Intel closed at $23.96 yesterday.
RBC Capital upgraded Intel (NASDAQ: INTC) from Sector Perform to Outperform with a price target of $29.00 (from $24.00). Analyst Doug Freedman sees 2013 gross margins, increasing traction of Intel's ultra-moblie platform, and an all-time bottom with PC sentiment.
"We do believe that due to the roll-off of start-up costs and bonus back of inventories, gross margins can move higher with limited revenue growth in 2HCY13. As a result, our gross margin assumption for 2013 of 60.7% is higher vs. Street at 59.2%,' said Freedman.
"Traction in mobile is upcoming, as the magnitude of design wins may be surprising
to investors. We feel that even ahead of a more compelling leading-edge 14nm line-up in 2014, Intel is today receiving a lot of interest from OEMs. There has been feedback from our handset ecosystem checks suggesting that Intel's 2014 ultra-mobile platform may be their best yet. This is especially encouraging given that the expectation on Intel.s success in ultra-mobile is very low," added the analyst.
For an analyst ratings summary and ratings history on Intel (NASDAQ: INTC) click here. For more ratings news on Intel click here.
Shares of Intel closed at $23.96 yesterday.
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