Early on Thursday, analysts at Jefferies upgraded Intel Corporation (INTC
), commenting that they believe the semiconductor and microprocessor manufacturer “offers one of the best alpha generation opportunities” in its sector.
Jefferies upgraded INTC from “Hold” to “Buy” and see shares reaching $30, up from the previous target of $27. This new price target suggests a 33% upside to the stock’s Thursday closing price of $22.63.
Mark Lipacis, an analyst at Jefferies, said, “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.”
The analysts lowered INTC’s fiscal 2013 EPS estimates from $2.02 to $1.88, but raised fiscal 2014 EPS estimates from $2.06 to $2.15.
Intel shares were up 42 cents, or 1.86%, during pre-market trading on Friday. The stock is up 9.75% year-to-date.
No comments:
Post a Comment