Bernstein raised the firm’s price target on Intel (INTC) to $60 from $36 and keeps a Market Perform rating on the shares. The firm once again ups its server assumptions and raises gross margin estimates, and lower NCI given the Ireland fab repurchase, but also drops its PC assumptions. Overall, Bernstein is below consensus on client and above on DC with higher gross margins; its revenue forecasts are below consensus on those weaker PCs but the firm models EPS above.
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