Intel Corp (INTC)

[VeeCee]

Here is one analyst raising price to $22.00 from $18.00. stock is close $30.00. What a clown. He should be calling it outright sell or avoid.
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Shares of Intel (INTC) are are up $1.97, or 7%, at $29.93, adding to last night’s after-hours gains, following Intel’s raising its forecast for revenue and gross margin this quarter and for the full year based on higher PC unit volume.

The stock has gotten several price target increases this morning, and at least one upgrade, from Drexel Hamilton’s Richard Wittington, who raised his rating to Buy from Hold, with a $35 price target, up from $28, writing that the Intel news was “A classic 2d week of June up guide.”

“Unless Iraq evolves into Hades, H2 is also necessarily higher,” he opines.” Whittington raised his 2014 view to $56 billion in revenue and 53 cents per share from a prior $54.8 billion and 47 cents.

Not everyone is delighted. Stacy Rasgon of Bernstein Research, who has an Underperform rating on the shares, raised his target to $22 from $18, but writes that it “may not be surprising to see what appears to be a spike in corporate PC demand” given the end of life in April of Windows XP.

“However, the big question now will of course be one of sustainability – while the company’s guidance suggests the spike in demand will carry forward through the rest of the year, it would not be out of line to suspect a bit of pull-forward, with associated risk of an air pocket later in the year.”