Nomura Securities Upgrades Intel (INTC) to Buy; 'Intel Is a Survivor'

Nomura Securities upgraded Intel (NASDAQ: INTC) from Neutral to Buy with a price target of $42.00 (from $33.00), calling it a Survivor.

Analyst Romit Shah commented, "We find it remarkable that Intel is down less than 10% YTD (vs. PC supply chain incl. HDDs/ODMs/Memory down 30%+), considering that the company missed significantly on Q1 revenues (~$1bn light vs. original guidance), pushed out 10nm in Q2, and lowered guidance on DCG in Q4. We think the market is telling us that Intel is a survivor. In light of this resilience and our expectation for a strong year in the company’s Data Center Group (DCG) in 2016, we upgrade the shares to Buy and increase our TP from $33 to $42."

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 $34.75 yesterday.

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