Wells Fargo Analyzes Intel’s Bay Trail Microprocessors and 2 More Heavily Traded Stocks to Follow
Intel Corp. (NASDAQ:INTC): Current price $22.64
Over the weekend, the analyst David Wong at Wells Fargo commented on Intel for the first time listing the Bay Trail microprocessors on its online price list. Wong has an Outperform on the shares and a “valuation range” of $28 to $33. He considers the addition of the chips to Intel’s published prices significant because it affirms his confidence that the firm will make lower-power versions of the chip available for tablet computers near the shopping season.
Bay Trail employs the “Silvermont” chip architecture that Intel revealed earlier in 2013 and that is expected to afford Intel a larger edge in the tablet market where it has lagged behind competitors like Nvidia and Qualcomm.
Broadcom Corp. (NASDAQ:BRCM): Current price $26.06
On Monday, Goldman downgraded Broadcom because of setbacks in the Samsung business and also the lack of visibility into customer diversification. The Price target was lowered from $36 to $30. Still, in late afternoon trading, shares were up 0.23 percent.
J.C. Penney & Co. (NYSE:JCP): Current price $13.17
Analyst Bernard Sosnick at Gilford Securities used Ackman, Go away; for your sake and ours, as the title on his latest report on J.C. Penney Co., which once again found itself in the spotlight when a public row erupted between its biggest shareholder Bill Ackman and its board of directors.
Ackman, whose Pershing Square Capital Management owns an 18-percent position in the historic retailer, first pressed Penneys to install a new chief executive within 30 to 45 days. Ackman sits on the board and said that the fairly-new Chief Executive Mike Ullman has made crucial personnel decisions without properly consulting the board. Then — all this last week — he called upon Chairman Thomas Engibous to resign. Engibous shot back, pronouncing Ackman’s actions “disruptive and counterproductive.”
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