RBC Capital Assumes Intel (INTC) at Sector Perform

RBC Capital assumes coverage on Intel (NASDAQ: INTC) with a Sector Perform rating and a price target of $29.00.

Analyst Amit Daryanani commented, "Our neutral stance on Intel is predicated on continued weak PC demand that could pose risk to H2:15 estimates. We don't expect PCs to see a seasonal uptick as anticipated within INTC's CY15 guide (though gross margins could see upside). Beyond near-term estimate risks there are several positives to the INTC story: 1) transformation into Compute (agnostic to medium), 2) cost optimization levers, 3) shift of Moore’s law could result in higher FCF/OM% over next 2-6Qs, and 4) reasonable valuation and 3.5% yield. Our neutral stance is predominantly driven by risk to H2:15E due to PC challenges."

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 $27.72 yesterday.

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