Intel "outperform," estimates raised

05.09.07 - Bear Stearns

NEW YORK, September 5 (newratings.com) - Analyst Gurinder Kalra of Bear Stearns maintains his "outperform" rating on Intel Corporation (INTC), while raising his estimates for the company. The target price is set to $28.

In a research note published this morning, the analyst mentions that recent checks indicate that PC builds continue to track ahead of Intel?s guidance for 3Q, indicating that the company may generate higher-than-expected revenues. The momentum in PC builds is being driven by the notebook segment, where builds are tracking higher than normal seasonal growth, the analyst adds. The gross margin estimate for 3Q has been raised from 52.0% to 52.5%. The EPS estimate for 3Q has been raised from $0.27 to $0.30.