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Analyst roundup: Intel draws approval

Citing long-term growth prospects, a Soundview Financial analyst reiterates a "buy" rating on Intel.

Intel gets a thumbs-up

Soundview Financial analyst Scott Randall has reiterated his short- and long-term "buy" ratings on Intel (INTC) due to the company's long-term growth prospects.

The company's stock was not affected. In morning trading, the stock was down 1-3/4 from Friday's close of 156-3/8.

Randall maintained earnings estimates of $8.75 per share for 1997 and $10.60 for 1998, with a target price of $180. He said he was impressed by a technology demonstration Intel held Friday for its next generation of Pentium Pro chips. Microsoft's decision to end support for the PowerPC chip was also a factor, as it pushes aside a key rival to Intel technology.

Randall said the Klamath trial showed things were on track for Intel's scheduled spring rollout of the new chip. The demonstration "shows the [Klamath] architecture has a lot of headroom in it," he said.

The 400-plus MHz clock speed is more than double the speed of current top-of-the-line Pentium Pro chips running at 200 MHz.

Donaldson, Lufkin & Jenrette raised its 1997 earnings estimate for Intel to $8.50 a share from $7.60 a share, a source said.

Reuters contributed to this report.