Intel Corporation (INTC) Message Board

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Technology Stocks : Intel Corporation (INTC)

INTC 48.80

+5.0%

Feb 2 3:59 PM EST

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To: GVTucker who wrote (86178)	7/27/1999 11:03:00 AM
From: Tony Viola	Read Replies (1) of 186894

GV, Drew Peck raised INTC to a buy, and raised his earnings estimate for '99 from $2.25 to $2.33. Check the headline on the Peck/Cowen upgrade. Did Drew really say that (free PC is main reason for upgrade), in that context? What would be his rationale? Looking some more for some exact words from Peck, who usually expresses himself well, even if we don't agree with him all the time. SG Cowen Raises Intel To Buy From Neutral On Free PC Trend (INTC) (NewsTraders.com)--SG Cowen Securities Corp. analyst Drew Peck today upgraded his rating on semiconductor giant Intel Corp. (INTC) to "buy" from "neutral." In a research report, Peck said his earlier concerns about deteriorating pricing in the microprocessor business and its impact on Intel as the dominant player have been lessened. The analyst now believes that the free PC trend in 1999 will offset such problems and push the chipmaker's revenues and margins higher. In addition, Peck predicted that these factors could drive Intel's stock price to the $75 to $80 range before year-end, although he maintained that the long-term outlook on the stock remained "hazy." Intel shares recently traded at $65.25, up $2.37 from yesterday's close. Copyright 1999 NewsTraders Inc. All Rights Reserved 10:10 Tuesday, July 27, 1999

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