Northland Capital Markets Raises Price Target on Intel (INTC) to $32 Following 2Q15 Results

Northland Capital Markets reiterates a Market Perform rating on Intel (NASDAQ: INTC), and raises price target to $32.00 (from $31.00), following 2Q15 results. Intel reported $0.55 on $13.2B, above Northland's estimates of $0.46 on $12.8B.

Analyst Gus Richard commented, "INTC’s report was much better than the dire expectations. Intel is starting to benefit from an inventory bounce after significant inventory depletion. Introduction of 10nm delayed to 2H:17; lowered CY15 capex by $1B - we think a slowdown in process transitions lowers the capital intensity of the business. We maintain our Market Perform rating and increase our PT from $31 to $32."

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 $29.69 yesterday.

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