RESEARCH ALERT - Lehman raises Intel estimates
Friday November 30, 12:00 pm Eastern Time
NEW YORK, Nov 30 (Reuters) - Lehman Brothers analyst Dan Niles raised his earnings per share and revenue estimates for Intel Corp.'s (NasdaqNM:INTC - news) fourth quarter, saying he believes the chipmaker will raise its fourth-quarter sales guidance to the high end of the range it has forecast.
Niles, who has recently been skeptical about a chips recovery, raised his fourth-quarter earnings per share estimate to 10 cents from 8 cents and his sales estimate to $6.8 billion from $6.6 billion.
``We believe Intel will raise their Q4 revenues guidance to the high-end of their prior range of $6.2 billion - $6.8 billion, and increase the gross margin forecast to 48 percent from 47 percent,'' he wrote in a note to clients.
He said he expects a slight increase in average selling prices, but cautioned that he does not expect an immediate recovery.
``We note that PC sales in general post Thanksgiving have been decent but not spectacular,'' he said. Intel stock was off 35 cents to $31.97 in morning trade. |
