Nomura Securities Trims Intel (INTC) Price Target to $18

Nomura Securities today maintained a Reduce rating on Intel (NASDAQ: INTC) and lowered its price target to $18.00 (from $19.00). The cut in Intel's price target comes ahead of the launch of its Haswell processors, which could have the single largest generation-to-generation battery life improvement in Intel's history.

"January through March are seasonally the weakest months of the year for PCs. This year is no different. PC demand is down 15% y-o-y. But Intel likely recognizes this pattern and into earnings we believe will stay cautiously optimistic on 2013; highlighting a greater mix of touch-enabled ultrabooks, lower price points ($499), and the launch of Haswell processors," analyst Romit Shah.

"The upcoming Haswell processors reduce power consumption to 7-10W, but Intel will likely need one more node transition (14nm Broadwell) to bring Core to tablets," said analyst Romit Shah.

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 $21.05 yesterday.

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