Intel initiated with "below average"

14.01.09 - Caris & Company

NEW YORK, January 14 (newratings.com) - Analyst Betsy Van Hees of Caris & Company initiates coverage of Intel Corporation (INTC) with a "below average" rating. The target price is set to $11.50.

In a research note published this morning, the analyst mentions that the company is likely to issue extremely disappointing 1Q guidance. Intel?s core notebook MPUs are likely to witness stiff competition from Atom and other new market entrants, the analyst adds. The company is also expected to experience significant challenges to improving its earnings power and gross margins in the long term, Caris & Company says.