CSFB raising estimates and price target...
From Briefing 8/30/99:
08:10 ET Intel (INTC) 83: CSFB raising FY99 estimate from $2.21 to $2.31, FY00 from $2.47 to $2.66, and raising price target to $100; unit growth in Q3 99 is well ahead of expectations; CSFB thinks there will likely be double digit sequential growth, looking for INTC to be more aggressive in communications efforts, including significant acquisitions.
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Intel Corporation (INTC, USD 83, BUY) Target (12 Months): $100
Very Strong 3Q99 Supports Intel's Transition; Raising EPS
Estimates And Increasing Price Target To $100.
Unit growth in 3Q99 well ahead of expectations, likely double
digit sequential growth, after brief pause in early August.
Management likely to wait on changing official guidance until
chipset issues are a bit clearer going forward.
Intel's business focus includes Asia (with China expected to be
second biggest maker in 18-24 months) and its barbell strategy
expansion (using Strong ARM on low end, Xeon/IA-64 on high end).
Look for Intel to get more aggressive in communications efforts,
including significant acquisitions and a focus on all four
broadband access types: wireless, cable, xDSL, and satellite.
Raising 1999 EPS estimate to $2.31 (formerly $2.21), 2000 to 2.66
(from $2.47). Reiterate Buy rating given long-term transition
risks, but given health of business into 2000, we are raising
price target to $100.
AnnualEPS
12/2000e $2.66
12/1999E $2.31 |
