Intel reiterated with a Buy at Mizuho; tgt $47
Mizuho reiterates INTC with a Buy and sets target price at $47. They believe INTC had a solid run in 2017, and INTC is well-positioned for 2018. Near-term they believe MarQ consensus estimates are modestly high against a backdrop of more seasonal PC/Data Center demand and modest iPhone/ NAND demand. Overall, 2018 could shape up better as INTC should be a key beneficiary of a lower U.S corporate tax rate and a potential substantial overseas cash repatriation to drive shareholder value. Reiterating their Buy on INTC and will review their PT closer to earnings