Intel Corp (INTC): This is quite positive. This could take...

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Monday, 10/21/2013 4:04:11 PM

Monday, October 21, 2013 4:04:11 PM

This is quite positive. This could take Intel much higher.
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Jefferies analyst Mark Lipacis reiterated a Buy rating and $30 price target on Intel (NASDAQ: INTC) Monday saying enterprise PC and server spend may have bottomed.
"Using Gartner forecasted shipments from enterprise heavy Dell and HP as a proxy, we show that enterprise PC and YoY spend may have bottomed in 3Q13," Lipacis notes. "We also show that both US and Global investment in Computers and Hardware have been below trend, and wonder if a cyclical investment cycle in PC/Server hardware is nigh. We think investors will be positively surprised by Intel's top line and gross margins over the next 4-to-6 quarters."
For an analyst ratings summary and ratings history on Intel click here. For more ratings news on Intel click here.
Shares of Intel closed at $23.88 yesterday, with a 52 week range of $19.23-$25.98.