Intel (INTC) PT Bumped to $35 at Northland Capital Markets; Remains on Sidelines on Slowing PC Demand
Northland Capital Markets analyst Gus Richard bumped his priced target on Intel (NASDAQ: INTC) to $35.00 (from $34.50) following Q4 results but maintained a Market Perform rating on slowing PC demand.
Richards comments, "Intel reported $0.74 EPS beating consensus by $0.08 on $14.7B. Mid-point of revenue guidance is $13.7B, below consensus of $13.8B. We believe Q1:15 consensus will likely come down slightly. We expect shares to be weak today. We believe PC demand is starting to show evidence of waning. We are maintaining our Market Perform rating and trimming our PT to $34.50 from $35.00 on slightly lower estimates."
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Shares of Intel closed at $36.19 yesterday.