Intel "buy," target price reduced

16.01.08 - UBS

NEW YORK, January 16 (newratings.com) - Analysts at UBS maintain their "buy" rating on Intel Corporation (INTC), while reducing their estimates for the company. The 12-month target price has been reduced from $32 to $29.

In a research note published this morning, the analysts mention that the company has reported its 4Q revenues short of and clean EPS ahead of the estimates. During the quarter, Intel witnessed weakness in its NAND business on account of weak prices, the analysts say. The macro environment is uncertain at present, UBS adds. The EPS estimate for 2008 has been reduced by 9% to $1.36.