Intel target raised to $46 ahead of next week's earnings
Stifel raises their INTC tgt to $46 from $41. Firm is expecting a strong server upgrade cycle based on Intel's new server CPU starting in the 3Q17. They also expect this upgrade to be the steepest ramp in 10 years for Intel. They believe DCG growth of +10% y/y can stimulate the under-performing INTC shares. Meanwhile, the PC market is tracking slightly ahead of expectations and AI related acquisitions - Mobileye, Nervana and Movidius - can start adding new growth markets.