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Fly News Breaks for June 15, 2015
INTC
Jun 15, 2015 | 09:27 EDT
Goldman said May ODM shipment data was well below expectations, indicating elevated channel inventory levels. The firm said ODM shipment weakness is consistent with its recent survey findings and believes Intel will be challenged to meet Q2 sales guidance of up 3% quarter-over-quarter and its target to grow 2H sales approximately 15% from the first half, given both excess supply and weak demand. Goldman reiterates its Sell rating and $23 price target on Intel and lowered its 2015 earnings estimate to $2.10 from $2.20 per share.
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