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, 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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