Mizuho Securities Reiterates Buy on Intel (INTC) Following 4Q Beat
Mizuho Securities reiterated a Buy rating and $37.00 price target on Intel (NASDAQ: INTC) following the company's 4Q earnings report. INTC reported revenue and EPS results of $14.9B and $0.74 respectively, ahead of street estimates of $14.8B and $0.64. The company also released March quarter guidance of $14.0B and $0.38, and 58% GM, below consensus of 60.8% due to Altera acquisition charges.
Analyst Vijay Rakesh commented, "INTC reported DecQ revenue/EPS of $14.9B/$0.74, ahead of street $14.8B/ $0.64 and guided MarQ to $14.0B/$0.38, and 58% GM, below consensus of 60.8% due to Altera acquisition charges. DecQ data center was modestly lighter, up 4% q/q, but full-year growth was 11% y/y (versus PC down 8%) and driving an accretive mix. INTC also guided 2016 to better non-GAAP GM and lowered capex. Adjusting estimates and reiterating our Buy as MarQ should be a trough and INTC continues to drive a data center mix shift, revenue stability and a ~3% yield."
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Shares of Intel closed at $32.74 yesterday.