Another day, Another analyst:Nomura Securities Trims Intel (INTC) Price Target to $18
Nomura Securities today maintained a Reduce rating on Intel(NASDAQ: INTC) and lowered its price target to $18.00 (from $19.00). The cut in Intel's price target comes ahead of the launch of its Haswell processors, which could have the single largest generation-to-generation battery life improvement in Intel's history.
"January through March are seasonally the weakest months of the year for PCs. This year is no different. PC demand is down 15% y-o-y. But Intel likely recognizes this pattern and into earnings we believe will stay cautiously optimistic on 2013; highlighting a greater mix of touch-enabled ultrabooks, lower price points ($499), and the launch of Haswell processors," analyst Romit Shah.
I can see how Nomura's rating really knocked down Intel's price today :-) . Meanwhile ARMH is down about 1.6%. Actually - I think most people are looking beyond a year from now. We all know Intel won't be blowing their numbers away for a while. What most people see - including the people selling ARMH - is what's coming 2 to 4 years down the road.
Romit Shah regularly employees this strategy. He will publish hs "reiteration" with a negative statement just before all Intel events. He will then reiterate right after the event saying "nothing new". He then reiterates several weeks after the event and lowers his target.
He did not reiterate and lower his target after the Q1 earnings and I was surprised to not hear from him. It is nice to know that he is still alive.
Expect him again the day after earnings and then again around May 1st. He will have even more negative things to say.
If you look at his history of ratings, he has maintained his SELL rating even as he raised his target to $25 last summer when Inte went to $29. (StreetInsider) I have often wondered what it would take to get a NEUTRAL from him. The problem he has is that a NEUTRAL rating would be an UPGRADE. Oh, the humanity!!!!