From: Tazia Smith
To: jeevacation@gmail.com
Cc: Paul Morris c >, Vahe Stepanian
Subject: INTC buy-and-write [C]
Date: Fri, 22 Nov 2013 15:25:43 +0000
Attachments: INTC_11.22.13.pdf
Inline-Images: unnamed; unnamed(1)
Classification: Confidential
Not fancy - INTC, down over 4.5% following a self-critical Analyst Day. DB is one of the only analysts across the Street
defending the name - in fact he raised his price target to 28 from 26. In part, he thinks management is being conservative and
setting up for outperformance., $2 eps for 2014E (current 12x vs large cap semi peers at 16x)
INTC spot is $24.09
Dec 23 calls are —$1.21 bid
Dec 24 calls are —$0.51 bid
INTC has a 3.7% current dividend yield, goes ex 2/5, reports 1/16 (Jan expiry is 1/18)
Tazia Smith
Director I Key Client Partners - US
Deutsche Bank Securities Inc
Deutsche Asset & Wealth Management
345 Park Avenue. 26th Floor
New York. NY 10154
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