Intel’s “Underweight” Rating Reaffirmed at Morgan Stanley (INTC)
Intel (NASDAQ:INTC)‘s stock had its “underweight” rating restated by equities research analysts at Morgan Stanley in a research note issued to investors on Monday. They currently have a $24.00 price target on the stock. Morgan Stanley’s target price would indicate a potential downside of 7.05% from the company’s current price.
The analysts wrote, “We analyze the underpinnings of recent gross margin strength: On flat 2014 revenues, we would have expected gross margins of about 58%, vs. the 61% the company is guiding to. That provided a nice surprise at the 1Q earnings report, but our belief is that GMs are peaking in 2q (as mgmt said), and will be under pressure next year.”
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Intel in a research note on Thursday, April 17th. They now have a $28.00 price target on the stock. Separately, analysts at Susquehanna reiterated a “neutral” rating on shares of Intel in a research note on Wednesday, April 16th. They now have a $23.00 price target on the stock. Finally, analysts at MKM Partners reiterated a “neutral” rating on shares of Intel in a research note on Wednesday, April 16th. They now have a $27.00 price target on the stock. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $26.47.
Intel (NASDAQ:INTC) traded up 0.19% on Monday, hitting $25.87. The stock had a trading volume of 7,359,819 shares. Intel has a 52 week low of $21.89 and a 52 week high of $27.24. The stock’s 50-day moving average is $26.41 and its 200-day moving average is $25.1. The company has a market cap of $128.8 billion and a price-to-earnings ratio of 13.81.
Intel (NASDAQ:INTC) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $0.38 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.37 by $0.01. The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.81 billion. During the same quarter last year, the company posted $0.40 earnings per share. Intel’s revenue was up 1.5% compared to the same quarter last year. Analysts expect that Intel will post $1.89 EPS for the current fiscal year.
Intel Corporation, incorporated in 1968, designs and manufactures integrated digital technology platforms.
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