Analysts: Intel Has Limited Downside Risk and 3 More Research Notes to Check Out
Intel (NASDAQ:INTC): Piper Jaffray has upgraded Intel to Neutral from Underweight, citing limited downside risk given the company’s 4.1 percent dividend yield and expectations for a modest corporate refresh cycle for PCs. The firm raised its price target for shares to $22 from $20.
BlackBerry (NASDAQ:BBRY): Jefferies says that its channel checks indicate that BlackBerry has cut build plans for BB10 handsets by at least another 10 percent per month after cutting them to 1 million from 2 million. The firm said it sees “significant risk” to consensus estimates over the next couple of quarters and dropped its price target for shares to $15 from $18. However, Jefferies thinks investors will likely look past the earnings risk given the potential of a takeover and keeps a Buy rating on the stock.
Foot Locker (NYSE:FL): Citigroup expects Foot Locker to report second-quarter earnings per share of 47 cents on Friday, 1 cent ahead of the consensus estimate. The firm reiterates a Buy rating on the stock with a $41 price target, as it believes downside risk is priced into shares and that while its channel checks indicated weaker traffic, they also showed low promotional activity.
Atlas Pipeline (NYSE:APL): Citigroup expects Atlas Pipeline’s results to stabilize in the second half of the year, and the firm reiterates a Buy rating on the stock following the underperformance since the company’s second-quarter results. Citigroup also raised its price target for shares to $47 from $46.