Intel "above average," target price raised - update

17.10.07 - Caris & Company

NEW YORK, October 17 (newratings.com) - Analyst Daniel Berenbaum of Caris & Company maintains his "above average" rating on Intel Corporation (INTC). The target price has been raised from $27 to $28.

In a research note published this morning, the analyst mentions that the company has reported significantly robust results for the latest quarter. During the quarter, Intel benefited from increased market share, a positive product mix shift and strength in the end markets, the analyst says. The EPS estimate for 2008 has been raised from $1.36 to $1.42 to reflect the increased gross margin expectations.