Here Goldman with a target price of $16.00. Every time stock goes up, Goldman is there to bring it down. Though it has some positive to say. It does want Intel to make chips for others so that $16.00 forecast can become true for it.
-----------------
Goldman Sachs maintained a Sell rating on Intel (NASDAQ: INTC) with a price target of $16.00. Analyst James Covello thinks 4Q results will be above the midpoint of guidance but he thinks gross margin is likely to decline in 1Q.
"Last week at CES, we hosted Intel president Renee James for what we believe was the most open, engaging and friendly strategic dialogue we have had with the company in 10 years. While we do not agree with all of Intel's strategic plans, we came away from the meeting with a much clearer understanding of what the company is trying to accomplish," said Covello.
"Our main takeaways: (1) We believe the new management team is more open to differing perspectives and is more attuned to market dynamics. (2) We believe Intel's goal is to use mobile unit volume to fill its fabs, which would raise utilization rates and drive higher GM. (3) Intel believes it can succeed in mobile by providing the lowest power processor, but we continue to believe its core advantage is in segments that require high processing power. (4) We believe Intel should pursue its open foundry strategy over its mobile strategy, given its edge in manufacturing. We believe 4Q results will be above the midpoint of guidance but note GM is likely to decline in 1Q," he said.
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 $25.53 yesterday, with a 52 week range of $20.10-$26.04.
Copyright 2014, Street Insider News Provided by Acquire Media Corporation
