Jefferies Group Upgrades Intel Corp. to “Buy” (INTC)
Intel Corp. (NASDAQ:INTC) was upgraded by investment analysts at Jefferies Group from a “hold” rating to a “buy” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm currently has a $30.00 target price on the stock, up from their previous target price of $27.00. Jefferies Group’s price target would suggest a potential upside of 32.57% from the company’s current price.
The analysts wrote, “We believe INTC offers one of the best alpha generation opportunities in semis: 1) it is finally focusing its manufacturing leadership to make MPUs that are lower power, higher performance and cheaper than competitive solutions. This new focus should translate to share gains in sub-$500 tablets, 2-in-1 PCs and handsets. 2) Consensus incorrectly assumes INTC’s x86 MPUs have an inherent disadvantage vs. ARM, and its 3yr, $60b investment nets to zero advantage.”
Other equities research analysts have also recently issued reports about the stock. Analysts at ISI Group reiterated a “buy” rating on shares of Intel Corp. (NASDAQ:INTC) in a research note to investors on Thursday. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Intel Corp. (NASDAQ:INTC) in a research note to investors on Tuesday, September 3rd. Finally, analysts at Argus upgraded shares of Intel Corp. (NASDAQ:INTC) from a “hold” rating to a “buy” rating in a research note to investors on Friday, August 30th. They now have a $28.00 price target on the stock.
Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $24.29.
Intel Corp. (NASDAQ:INTC) traded up 2.52% on Friday, hitting $23.20. 10,277,710 shares of the company’s stock traded hands. Intel Corp. has a one year low of $19.23 and a one year high of $25.98. The stock’s 50-day moving average is $22.61 and its 200-day moving average is $22.96. The company has a market cap of $115.6 billion and a price-to-earnings ratio of 12.23.
Intel Corp. (NASDAQ:INTC) last announced its earnings results on Wednesday, July 17th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.89 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share. The company’s quarterly revenue was down 5.1% on a year-over-year basis. On average, analysts predict that Intel Corp. will post $1.87 earnings per share for the current fiscal year.
In other Intel Corp. news, VP David Perlmutter sold 103,555 shares of the stock on the open market in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.00, for a total value of $2,381,765.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Intel Corporation designs and manufactures integrated digital technology platforms. A platform consists of a microprocessor and chipset.
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