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Fly News Breaks for July 11, 2019
Jul 11, 2019 | 05:08 EDT
Mizuho analyst Vijay Rakesh lowered his price target for Intel to $52 from $56 while maintaining a Buy rating on the shares due to valuation. The analyst sees "significant" upside to June quarter estimates but expected "muted" September quarter guidance. Post-checks into the Taiwan PC supply chain, Rakesh believes PC units are trending "significantly stronger," up 20%-35% quarter-over-quarter with a pull-in from the September quarter on fear of a 25% tariff. Further, he thinks Intel has continued to ship to Huawei and expects minimal near-term impact from the ban.