Research analysts at financial group Susquehanna began covering shares of Intel (INTC
) in a note issued to investors. The firm set
a “positive” rating on the chip maker’s stock and expressed that investors should buy Intel due to strong cloud growth in its data center business.
Intel’s one-year price target of $40.26 was higher Wednesday than the opening price of $37.42, that has caused a number of other analysts to issue statements on the company in recent days.
With Intel hitting 15-year highs last Friday, raising Q3 guidance
while noting PC demand turnaround, and confirming the company's supplying iPhone 7 components it is clear to see why the outlook is confident.
In the past seven days, 19 analysts
have given Intel a 73% Positive rating with a Median target of $42.
Intel’s stock had its “outperform” rating reaffirmed
by investment analysts at Credit Suisse. They presently have a $40.00 price target on Intel’s stock.
Intel's price target was increased to $44 from $40 by Canaccord. The firm reiterated its "buy" rating and said
it maintains its positive outlook on Intel.
Commenting on the positive outlook they noted
, "following the meetings and the coincident iPhone 7 launch where we believe Intel modem potential share has likely expanded from 30% toward 40-50%, our thesis remains unchanged and we raise estimates consistent with Intel’s positive Q3/16 pre-announcement last Friday citing better PC market trends and inventory re-stocking. While pre-announced results were much better than original guidance, we believe investors will still be anxious to confirm re-accelerating growth in DCG with the first full quarter of 14nm Broadwell server CPUs and first material sales of 2nd-generation Xeon Phi, Silicon Photonics and OmniPath fabric products that should combine to push DCG growth back toward the mid- teens target and to double-digits for the full year."