Jefferies Maintains Buy on Intel (INTC) After Evaluating the ALTR Deal

Jefferies maintains a Buy rating and $48.00 price target on Intel (NASDAQ: INTC) after evaluating the ALTR Deal. Analyst Mark Lipacis believes that the deal highlights INTC's data center profits.

Lipacis commented, "Intel is paying a premium for ALTR, but the deal highlights Intel's data center profits, which we forecast will exceed client computing for the first time in 2017 and signal a shift of Intel to a "Data Center" from "PC" play. We also believe it highlights challenged leading edge fabless business models and view it as a milestone for our 2012 Moore Stress thesis that argued the balance of power would shift to IDMs from leading edge fabless companies."

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 $33.91 yesterday.

You May Also Be Interested In

• Intel (INTC) April weekly 34.50 straddle into quarter results
• Intel to report later this week, but analysts flag weakness in chipmaking unit
• Intel (INTC) April weekly 34 straddle into quarter results