Intel "buy," target price raised

17.10.07 - Stifel Nicolaus

NEW YORK, October 17 (newratings.com) - Analysts at Stifel Nicolaus & Company reiterate their "buy" rating on Intel Corporation (INTC), while raising their estimates for the company. The target price has been raised from $31 to $33.

In a research note published this morning, the analysts mention that the company has posted robust revenue results for the September quarter, with order acceleration through the entire three-month period. Intel is expected to continue to gain market share, improve its operating efficiency and benefit from reduced start-up costs going forward, the analysts say. The company issued has its revenue guidance for the December quarter at $10.5-$11.1 billion, which is above the consensus. The EPS estimates for FY07 and FY08 have been raised from $1.17 to $1.20 and from $1.42 to $1.54, respectively.