INTC May Continue To See Robust Orders For Notebook

Analysts at Canaccord Adams maintain their "buy" rating on Intel (NASDAQ: INTC), while raising their estimates for the company. The target price for INTC has been raised from $27 to $30.

Intel posted its Q1 results higher than the estimates and the consensus. INTC has projected its revenues for Q2 at $10.2 billion, plus or minus $400 million, which is higher than the estimates. According to Canaccord Adams, “…rush orders from notebook customers bake in another beat in Q2, while early signs point to H2 upside on corporate PC replacement.” Intel’s gross margins “look likely to increase during the remainder of 2010.”

Canaccord Adams has raised its estimates for 2010 and 2011 from $1.70 to $1.88 and from $1.90 to $2.10, respectively.

More Analyst Ratings here.