Intel "neutral," target price raised

16.04.08 - Robert W. Baird

NEW YORK, April 16 (newratings.com) - Analysts at Robert W Baird reiterate their "neutral" rating on Intel Corporation (INTC). The target price has been raised from $23 to $25.

In a research note published this morning, the analysts mention that the company has reported its 1Q08 GAAP EPS short of and revenues in-line with expectations. Intel has issued its revenue guidance for 2Q08 at $9.0-$9.6 billion, the midpoint of which is ahead of the earlier estimate and the consensus. The company?s 1Q revenue performance and 2Q prospects underline the sustained robust trends in PCs, mainly notebooks and servers, which are likely to allay near-term concerns regarding potential battery shortages and PC end-demand, Robert W Baird adds.