JP Morgan raises Intel earnings, revenue forecasts
Mon Dec 20, 2004 09:43 AM ET
NEW YORK, Dec 20 (Reuters) - J.P. Morgan Securities Inc. on Monday raised its full-year 2004 and 2005 revenue and profit estimates for Intel Corp. (INTC.O: Quote, Profile, Research) , citing increased demand for personal computers and advance buying for its chips.
Analyst Christopher Danely raised his 2004 profit target to $1.15 a share, up from $1.14 a share previously, according to a research note to clients. He increased his full-year revenue target to $34.2 billion, up from $34 billion.
Analysts on average have forecast 2004 profit of $1.14 a share on revenue of nearly $34 billion, according to the consensus targets compiled by Reuters Estimates.
"We believe the upside is being driven by PC end-market growth, a 14-week (first quarter of 2005) versus a normal 13-week quarter, and double ordering due to extended lead times," Danely wrote.
He said he was maintaining his "neutral" rating on the stock.
For 2005, Danely raised his earnings estimate to $1.09 a share, up from $1, and increased his revenue projection to $37.7 billion, from $36.5 billion. Analysts, on average, are expecting profit of $1.18 a share on revenue of nearly $36.6 billion, according to Reuters Estimates. |
