Stock Update: Intel Corporation (NASDAQ:INTC) – Intel: Citi Sees Favorable PC Trends into Q1, Little Past That

[at Barrons.com] – Citigroup’s Chris Danely today reiterates a Neutral rating on shares of Intel (INTC), and a $34 price target, writing that the latest data on notebook computer sales suggest trends in PC’s are “firming,” which is good for Intel, although he sees little beyond that about which to be exited. Writes Danely, his colleague William Yang’s work shows sales of notebooks by original design manufacturers, or ODMs, in the month of November, rose 10%, which was what Yang had been expecting, an improvement from a 23% drop in October. As we wrote in our Nov 20 Intel Analyst Day Wrap, we continue to believe that PC demand is stable. Read more on this. Intel Corporation (INTC) , valued at $166.01B, began trading this morning at $34.64. During today’s session, INTC traded between $34.63 to $35.35 with its 52-week range being $24.87 to $37.74. Intel (INTC) shares are currently priced at 15.46x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 10.04x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $0.96 per share annually in dividends, yielding 2.80%. In a review of the consensus earnings estimate this quarter, 38 sell-side analysts are looking at $0.63 per share, which would be $0.11 worse than the year-ago quarter and a $0.03 sequential increase. The full-year EPS estimate is $2.23 which would be a $0.08 setback than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $14.81 Billion. If realized, that would be a 0.61% increase over the year-ago quarter. Recently, JMP Securities upgraded INTC from Mkt Underperform to Mkt Perform (Sep 25, 2015). Previously, Northland Capital upgraded INTC from Market Perform to Outperform. When considering if perhaps the stock is under or overvalued, the average price target is $36.16, which is 4.39% above where the stock opened this morning. See more in (NASDAQ:INTC) Similar Articles: Market Update: Intel Corporation (NASDAQ:INTC) – Intel (INTC) Stock Up on Regulatory Approval of $16.7 Billion Altera Deal Stock Update: Intel Corporation (NASDAQ:INTC) – Intel (INTC) Stock Down as RBC Initiates Coverage Stock Update: Intel Corporation (NASDAQ:INTC) – One Factor Bringing Intel (INTC) Stock Up