Intel upgraded to "buy"

16.03.09 - Caris & Company

NEW YORK, March 16 (newratings.com) - Analysts at Caris & Co upgrade Intel Corporation (INTC) from "below average" to "buy." The target price has been raised from $11.50 to $18.

In a research note published this morning, the analysts mention that the downturn in the semiconductors industry appears to be reaching its bottom. Although the macro environment continues to be tough, the PC supply chain appears to reaching a trough with Intel?s utilization rates expected to improve in 2H09, the analysts add. The company continues to have strong cash flow, ahealthy balance sheet and robust margins, Caris & Co says.