MKM Maintains Bullish Contrarian View of Intel (INTC)

Despite a nearly 7 percent increase in Intel's (Nasdaq: INTC) share price within 30-days, analysts at MKM maintained their bullish contrarian view.

"PCs are obviously weak, and Windows 8 adoption painfully slow, but our view is that the structural bear case - that INTC's technology has outstripped market requirements - is overblown," said analyst Daniel Berenbaum.

Near-term, he expects lower capex to create positive tailwinds for cash generation.

"With INTC's 4.2% dividend yield and dominant market share in server, and investor sentiment extremely negative, we view current levels as an attractive entry point for new money," said Berenbaum.

MKM Partners has a Buy rating on Intel with a price target of $24.00.

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 $21.45 yesterday.

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