Intel "buy," target price raised

15.04.09 - Stifel Nicolaus

NEW YORK, April 15 (newratings.com) - Analysts at Stifel Nicolaus & Company maintain their "buy" rating on Intel Corporation (INTC). The target price has been raised from $17 to $19.

In a research note published this morning, the analysts mention that the company has reported better-than-expected quarterly results, while giving indications of a bottoming out of PC demand. Intel?s shares are likely to witness some profit taking in the near future, the analysts say. The company continues to be in the early stages of recovery and has modified its cost structure to generate significant cash flows, Stifel Nicolaus adds. The EPS estimate for F09 has been raised from $0.36 to $0.49.