Intel (INTC) PT Raised to $60 at Citi, Remains Top Pick

Citi raised its price target on Intel (NASDAQ: INTC) to $60.00 (from $58.00) while maintaining a Buy rating.

Analyst Chris Danely boosts his estimates on the company citing higher Data Center revenue and margins on the heels of enterprise strength. He is under the impression that estimates can move higher from the Street. The analyst comments "We estimate Intel’s data center business will grow roughly 14% in 2018 with operating margins of 49.3% driven by the recovery in enterprise demand."

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