Northland Capital Markets Downgrades Intel (INTC) to Underperform; 'As Good as it Gets'

December 4, 2018 6:48 AM EST
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Price: $36.20 +1.17%

Rating Summary:
    21 Buy, 23 Hold, 14 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 10 | Down: 24 | New: 34
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Northland Capital Markets analyst Gus Richard downgraded Intel (NASDAQ: INTC) from Market Perform to Underperform with a price target of $42.00 (from $46.00).

Ricard commented, "We cut our numbers for CY19 and model further declines in CY20. Our revenue numbers were above consensus with lower GM (weakening mix) and non-GAAP EPS were below consensus. We trim CY19 revenue assumptions: 1) Trade trauma pull forward demand 2) Market share loss to AMD 3) Reduced expectation of 10nm ramp in 2H:19 4) Weak demand from Apple and weak Flash pricing 5) Slower Datacenter Demand. We trim our PT to 10x our CY19 estimate or $42 down from $46."

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 $49.75 yesterday.

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