S&P Reiterates its HOLD Rating on Intel, Target Price Raised

October 20 00:00 2011

New York, October 20 (RainbowNewsLine.com) – Analyst Angelo Zino of S&P Capital IQ reiterates his HOLD rating on the shares of Intel Corp (NASDAQ: INTC), while raising his estimates for the company. The target price has been raised from $26 to $27.

Analyst Angelo Zino, in a research note published yesterday mentions that the company reported its Q3 EPS substantially ahead of the estimates. Margins continues to improve because of the lower start up costs and  higher volumes, analyst says. Intel’s sales grew 9.2% from Q2 due to healthy shipments of microprocessors and stable pricing. Although the consumer PC demand is expected to be soft, enterprise orders and emerging markets will remain strong, the analyst adds. The EPS estimates for 2011 and 2012 have been raised from $2.42 to $2.46 and from $2.37 to $2.50, respectively.