Intel "buy," estimates raised

11.09.07 - UBS

NEW YORK, September 11 (newratings.com) - Analysts at UBS maintain their "buy" rating on Intel (INTC), while raising their estimates for the company. The 12-month target price is set to $30.

In a research note published this morning, the analysts mention that the company has raised its sales and gross margin guidance for 3Q from $9.0-$9.6 billion to $9.4-9.8 billion and to the high-end of its prior 52% ± 2% projection, respectively. The upward revision in the guidance is likely to have been driven primarily by the continued momentum in Intel?s Santa Rosa notebook platform and continued ramp of quad-core processors in the company?s server products, the analysts say. The EPS estimate for 2007 has been raised from $1.07 to $1.09.