Intel (INTC) PT Raised to $55 at Cowen

Cowen analyst Matthew Ramsay raised the price target on Intel (NASDAQ: INTC) to $55.00 (from $53.00) while maintaining a Market Perform rating.

The analyst commented, "Near-term, we raise our 1Q ests, ironically due to 14nm constraints and 10nm delays driving mix shift to DCG and pushing PC builds into 1Q. We also introduce our below-Street 2021 revenue ests as further share losses to AMD, mounting customer frustration, and GM pressure hit the model. Maintain Market Perform with a raised $55 PT on NT financial resilience, but LT fundamental questions remain."

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