Intel "buy," target price reduced

16.01.08 - Stifel Nicolaus

NEW YORK, January 16 (newratings.com) - Analysts at Stifel Nicolaus & Company maintain their "buy" rating on Intel Corporation (INTC), while reducing their estimates for the company. The target price has been reduced from $33 to $29.

In a research note published this morning, the analysts mention that the company has posted its 4Q07 EPS and revenues short of the consensus. Intel has issued its revenue guidance for F1Q at $9.4-$10.0 billion, the mid point of which is short of the estimates and the consensus, reflecting unfavourable NAND pricing trends, the transitioning of the Marvell foundry to TSMC and a cautious outlook for the economy. The EPS estimate for FY08 has been reduced from $1.54 to $1.44.