UPDATE: Northland Capital Markets Starts Intel (INTC) at Market Perform

(Updated - October 8, 2014 9:29 AM EDT)

Northland Capital Markets initiated coverage on Intel (NASDAQ: INTC) with a Market Perform rating and a price target of $35.00.

Analyst Gus Richard said, "We believe that Intel is benefitting from several tail winds currently reflected in share price: 1) new server product cycle; 2) decline in cannibalization of PC by tablets; 3) penetration in the tablet market; 4) stabilization in its core PC market. We think these factors will drive mid-single digit to topline growth and double-digit EPS growth this year and low-signal digit next. Offsetting these positive factors is the channel inventory build-up and likely margin pressure in 2H:15."

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 $34.11 yesterday.

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