Jefferies Raises Price target on Intel (INTC) to $36 Following 2Q EPS Beat

Jefferies reiterates a Buy rating on Intel (NASDAQ: INTC), and raises the price target to $36.00 (from $35.00), following 2Q15 results. Reported EPS of $0.55 was $0.05 above consensus.

Analyst Mark Lipacis commented, "2Q EPS beat by $0.01 EPS (ex 1x), and the 3Q outlook implies a $0.03 beat due to both better revs (170 bps) and gross margins (160 bps). Importantly, INTC is officially shifting to a 10 qtr manufacturing process cadence for 10nm, which we think translates to: 1) better gross margins, 2) lower CapEx intensity and higher cash flow, 3) more consistent execution and predictable demand."

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 $29.69 yesterday.

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