Intel (INTC) PT Lifted to $45 at Jefferies; Bull Case PT is $60
Jefferies analyst Mark Lipacis reiterated a Buy rating, raised estimates and boosted his price target on Intel (NASDAQ: INTC) to $45.00 (from $40.00) following strong Q2 results and outlook. He sees a $60 bull case price target.
Lipacis comments, "Our Moore Stress thesis says that Intel stays on the transistor cost curve while its competitors fall off. Said another way, we expect a shakeout in MPUs, share gains in tablets/mobile and higher profitability. Near term Intel is benefiting from a PC upgrade cycle, but signals of our secular cost structure and capital return theses came through in its 2Q14 report. Our bull case price target is $60."
The firm raised Q3 EPS from $0.61 to $0.67, FY 2014 EPS from $2.16 to $2.28 and FY 2015 EPS from 2.51 to $2.84.
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 $31.71 yesterday.