Intel (INTC) PT Raised to $37 at Piper Jaffray

Piper Jaffray analyst Ruben Roy reiterated an Overweight rating and boosted his price target on Intel (NASDAQ: INTC) to $37.00 (from $31.00) following solid Q2 results and outlook. The firm notes momentum continues and they remain bullish on solid progress.

"While the corporate PC demand environment could weaken in 2015, INTC expects recent positive trends to continue through year-end," Roy said. "Our recent supply chain checks suggest that new, lower priced, form-factors that are expected to ship in 2H, could drive improved consumer PC demand."

The firm raised FY 2014 EPS from $1.90 to $2.14 and FY 2015 EPS from $2.05 to $2.30.

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 $31.71 yesterday.

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