Analyst Cautious on Intel Shares, Red Hat a Top Morgan Stanley Pick, Strength at Red Hat, F5 and Xilinx

On Thursday, the Dow Jones Industrial Average (NYSEARCA:DIA) achieve 12,600, the S&P 500 remains above 1,300 and the Nasdaq approaches 2,800. The investing sentiment has improved in trading this week as earnings season is underway. Here are top tech companies seeing new analysis from brokerage firms today:

Intel Corporation (NASDAQ:INTC): Cowen expects low earnings at Intel. You may not like Intel’s first quarter results, but Cowen still thinks the company is a good long-term investment.  The firm noted a 3.3 percent dividend and modest valuation across semiconductors. Cowen maintains an Outperform.

Xilinx Inc. (NASDAQ:XLNX): RW Baird says Xilinx had easy third quarter comps. Baird says there was not a broad market recovery, but instead attributed results to a rebound in the optical sector. Remaining cautious on the shares, Baird cited management comments that referenced recovery sustainability and peaking gross margins. Baird maintains its Neutral, but raises target from $27 to $35.

Red Hat, Inc. (NYSE:RHT): Morgan Stanley still has Red Hat as a Top Pick. The firm continues to keep Red Hat as top pick citing a recent meeting with management which highlighted the company’s products, pipeline, and upcoming catalysts. Shares are Overweight.

F5 Networks, Inc. (NASDAQ:FFIV): Wells Fargo increased F5 Networks valuation range. Citing both first quarter results and second quarter guidance as stronger than expected, the firm raised Wells Fargo’s valuation range from $112-$122 to $124-$129. The firm maintains an Outperform.

Riverbed Technology, Inc. (NASDAQ:RVBD): Piper Jaffray expects strong fourth quarter for Riverbed. The firm expects the company to top consensus estimates for the quarter, and cites valuation as it reiterates a Neutral.

BroadSoft, Inc. (NASDAQ:BSFT): Brigantine says billing concerns at BroadSoft look overdone. The firm expects BroadSoft will meet or exceed fourth quarters estimates and reiterates a Buy with a $42.50 target.

To contact the reporter on this story: Jim Wilkerson at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com