ISI Group announced on Thursday that it was reiterating its “Buy” rating on the Santa Clara-based semiconductor maker Intel Corp. (INTC
) after the company revealed a number of exciting products at its annual Developer Forum, which took place on Wednesday.
At the Developer Conference, the company unveiled the first fanless ultrabook as well as a number of Android and Windows 8 smartphone and tablet devices that will be armed with new Intel chips. Sumit Dhanda, an analyst with ISI Group, added, “Tempering our concern is August notebook ODM production that was at least a little better than feared, along with a somewhat more upbeat tone from management at IDF. With servers apparently on track as well, we think the odds now favor Intel landing within the targeted range of its sales guidance.” As such, ISI Group reiterated its “Buy” rating on the stock along with a price target of $26.00 a share.
Intel shares inched lower on Thursday, shedding 0.79% on the day. The stock is up nearly 10% YTD.
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