S&P Equity Research Downgrades Intel Corp (INTC) to Hold
S&P Equity Research downgrades Intel Corp (NASDAQ: INTC) from Buy to Hold.
S&P analyst. C. Montevirgen, says, "Q4 operating EPS of $0.42 vs. $0.33 is in-line with our model. Sales rose 6% from Q3, reflecting strong microprocessor sales and somewhat weak NAND Flash sales. Gross margins widened on lower unit cost, better volume, and better sales mix. We still expect market share gains and strong microprocessor sales to support growth, but are modeling more modest margin expansion given INTC's '08 guidance. We are lowering our '08 EPS estimate by $0.05 to $1.43. Also, we are reducing our 12-month target price by $7 to $23, based on reduced relative multiples, now closer to peer averages."
Intel Corporation is a semiconductor chip maker, developing advanced integrated digital technology platforms and components, primarily integrated circuits, for the computing and communications industries.
S&P analyst. C. Montevirgen, says, "Q4 operating EPS of $0.42 vs. $0.33 is in-line with our model. Sales rose 6% from Q3, reflecting strong microprocessor sales and somewhat weak NAND Flash sales. Gross margins widened on lower unit cost, better volume, and better sales mix. We still expect market share gains and strong microprocessor sales to support growth, but are modeling more modest margin expansion given INTC's '08 guidance. We are lowering our '08 EPS estimate by $0.05 to $1.43. Also, we are reducing our 12-month target price by $7 to $23, based on reduced relative multiples, now closer to peer averages."
Intel Corporation is a semiconductor chip maker, developing advanced integrated digital technology platforms and components, primarily integrated circuits, for the computing and communications industries.
