Intel upgraded to "buy"

22.10.08 - Canaccord Adams

NEW YORK, October 22 (newratings.com) - Analyst Bobby Burleson of Canaccord Adams upgrades Intel Corporation (INTC) from "hold" to "buy." The target price has been raised from $17 to $20.

In a research note published this morning, the analyst mentions that the valuation of the company?s stock is attractive at present. Notebook ODMs have witnessed push-outs or cancellations from major brands in 3Q and 4Q, and there are weak order signs for 1H09, the analyst says. Despite this gloomy outlook, Intel?s earnings are unlikely to fall below $1.00 in 2009, Canaccord Adams adds.