Intel to rally 16% this year as earnings beat expectations, Pacific Crest says

Intel Corp. CEO Brian Krzanich
Ethan Miller | Getty Images

Pacific Crest reiterated its overweight rating for Intel shares, saying the chipmaker's earnings for the December quarter will beat Wall Street's consensus estimate.

The company will report fourth-quarter results on Thursday.

Intel's "CCG [client computing group] should drive Q4 results to be at the higher end of guided range," analyst Michael McConnell wrote in a note to clients Sunday. "Secular growth trends remain intact in DCG [data center group] ... with revenue growth reacceleration likely in 2017."

More In Pro News and Analysis

CNBC ProSantoli's Friday market notes: The inflation mini-panic subsides amid a broad rally for stocks
CNBC ProAs growth stocks struggle, Wall Street analysts say bet on these value names
CNBC ProCramer says investors are misguided on Disney, expects theme parks and movies will bounce