After Intel reported an in-line quarter and provided weak Q2 guidance, Northland said the firm has expected a W-shaped recovery, but “the second dip is slightly lower than anticipated.” The firm, which expects improved PC and data center demand in the second half and notes that Intel promises a strong product refresh, believes the second half “is where the rubber hits the road” and says Intel “needs to deliver to establish creditability.” The firm keeps an Outperform rating and $68 price target on Intel shares.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on INTC: