Intel "accumulate," target price raised

21.04.08 - Jyske Bank

NEW YORK, April 21 (newratings.com) - Analysts at Jyske Bank reiterate their "accumulate" rating on Intel Corporation (INTC). The target price has been raised from $26 to $27.

In a research note published this morning, the analysts mention that the company has reported its 1Q08 EPS short of the consensus, mainly due to an increased tax rate. Intel?s sales in the quarter grew 9% y/y to $9.7 billion, ahead of the expectations, the analysts say. The company has issued its sales guidance for 2Q08 at $9.0-$9.6 billion, with the midpoint ahead of the consensus, Jyske Bank adds.