Intel "outperform," estimates reduced

16.01.08 - Cowen and Company

NEW YORK, January 16 (newratings.com) - Analyst John Barton of Cowen & Co maintains his "outperform" rating on Intel Corp (INTC), while reducing his estimates for the company.

In a research note published this morning, the analyst mentions that the company has posted its 4QF07 EPS marginally short of the estimates and the consensus. Intel has issued its revenue guidance for F1Q08 at $9.4-$10.0 billion, marginally short of the consensus, due to substantial decline in the NAND flash ASPs, uncertainty surrounding macroeconomic environment and the completion of supply contracts with Marvell. The company?s share price is likely to come under pressure due to the weak guidance, Cowen & Co adds. The EPS estimate for 2008 has been reduced from $1.45 to $1.40.