GV - Here's an Intel Target price Increase for you.
"ABN-AMRO said Wednesday it raised its 12-month price target on Intel Corp. to $90 a share from $85, and said the world's largest chip maker may pre-announce better-than-expected earnings prospects.
-- In a research note, analyst David Wu said stronger-than-expected demand from personal computer original equipment manufacturers was likely to bring fiscal third-quarter sales to $7.7 billion, which would be above both the company's and ABN-AMRO's expectations. Wu said Intel had estimated that third-quarter sales would be up slightly from the second quarter's $6.7 billion, while ABN-AMRO had pegged sales at $7.3 billion."
Paul
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biz.yahoo.com
Wednesday September 1, 1:28 pm Eastern Time
RESEARCH ALERT-Intel price target raised
CHICAGO, Sept 1 (Reuters) - ABN-AMRO said Wednesday it raised its 12-month price target on Intel Corp. to $90 a share from $85, and said the world's largest chip maker may pre-announce better-than-expected earnings prospects.
-- In a research note, analyst David Wu said stronger-than-expected demand from personal computer original equipment manufacturers was likely to bring fiscal third-quarter sales to $7.7 billion, which would be above both the company's and ABN-AMRO's expectations. Wu said Intel had estimated that third-quarter sales would be up slightly from the second quarter's $6.7 billion, while ABN-AMRO had pegged sales at $7.3 billion.
-- ''We are anticipating an upside earnings pre-announcement from Intel,'' Wu said in a research note. ''Based on the increasing demand for DRAMs from Micron Technology and progressively more serious shortage of the 440xx family chipsets, it is obvious that the current quarter for Intel is ahead of expectations.''
-- Separately, Gruntal & Co. raised its 12-month price target on Intel to $110 from $85, saying the chip maker was positioned to expand the high-end processor market.
-- ''We reiterate our strong buy rating on Intel, and we are raising our 12-month price target to $110 from $85 to reflect the improved visibility for the company's earnings and aggressive expansion at the high end of the processor market,'' analyst Mona Eraiba said in a research note.
-- The stock was up 2-8/16 at 84-11/16.
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