Intel (INTC) PT Raised to $34 at Topeka Capital

Topeka Capital maintained a Buy rating on Intel (NASDAQ: INTC) and raised its price target to $34.00 (from $30.00).

Analyst Suji De Silva said, "INTC preannounced 2Q14 revenue and gross margin upside, driven by strength in the corporate PC market. We believe PC demand is stabilizing, with INTC now guiding for fullyear growth in 2014. We regard margin upside as an indicator of the strength of the INTC product lineup. We expect corporate PC strength to be driven by a multi-quarter upgrade cycle, and also expect share recovery in consumer PC in 2H14."

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 $27.96 yesterday.

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