Stifel Reiterates Rating, Raises Price Target On Intel On Lack Of Surprises

In a report published Friday, Stifel analyst Kevin Cassidy reiterated a Buy rating on Intel Corporation (NASDAQ: INTC), and raised the price target from $39.00 to $41.00.

In the report, Stifel noted, “Intel delivered in-line results (save a tax benefit to the bottom line), gave roughly in-line guidance and maintained its 2015 outlook. Most times boring is good. Interesting to us was that Intel's average selling price of its data center platforms increased 7% q/q and 10% y/y. We expect this trend to continue into 2015 as High Performance Computing, Cloud and mega-Data Center markets push for higher performance and, in our view, Intel has few competitors in these markets. The PC market has clearly stabilized and the company's PC outlook is roughly in-line with market researchers' estimates. We maintain our Buy rating.”

Intel closed on Thursday at $36.19.