Intel "buy," target price reduced

17.01.08 - Deutsche Securities

NEW YORK, January 17 (newratings.com) - Analyst Ross Seymore of Deutsche Bank Securities reiterates his "buy" rating on Intel Corp (INTC), while reducing his estimates for the company. The target price has been reduced from $30 to $26.

In a research note published yesterday, the analyst mentions that the company has posted its 4Q07 revenues and EPS short of the consensus, mainly on account of weak NAND ASPs and higher-than-expected restructuring charges, respectively. Although Intel has issued weak 1Q revenue guidance, the margin guidance for 2008 is robust, the analyst says. The EPS estimate for 2008 has been reduced from $1.52 to $1.45.