RBC Capital analyst Doug Freedman bumped his price target on Intel (NASDAQ: INTC) to $35.00 (from $34.00) following Q3 results but maintained a Sector Perform rating. The firm was positive on the guidance but said inventory build concerns trump.

"We like the Q4 guide, which may assuage fears of a semis cycle rollover," Freedman commented. "However, inventory build concerns could outweigh the positives takeaways from the guide. We think that Intel's leverage from marginal DCG and PCCG segment growth continue to fund Mobile & IoT initiatives."

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 $32.14 yesterday.