Roth Capital Raises Intel Price Target To $38 Following Strong 2Q14 Results


In a research report released yesterday, Roth Capital analyst Krishna Shankar maintained a Buy rating on Intel Corporation (INTC) and raised his price target to $38 (from $35), following strong 2Q14 results. Management anticipates revenue growth of 5% for 2014 versus its prior flat outlook. Shankar believes that “the enterprise PC replacement cycle may last several quarters, coupled with continuing strength in high-margin datacenter server processors”.

The analyst noted, “We believe that Intel’s process and manufacturing technology lead is a long term competitive advantage (3 + years ahead of industry with 22nm, trigate, high-K/metal gate process technology) with three high volume 12-inch fabs. Intel also has other sustainable competitive advantages such as leading brand, strong presence in global emerging markets driving much of growth, and a software/platform approach to delivering PC, server solutions to capture value”.

According to TipRanks.com, which measures analysts and bloggers success rate based on how their calls perform, analyst Krishna Shankar currently has a one-year average return of 29.9% and a 77% success rate. Shankar has a 9.6% average return when recommending INTC, and is ranked #104 out of 3217 analysts.

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