NEW YORK (TheStreet) -- Shares of Intel (INTC) - Get Report  are higher by 0.14% to $34.82 this afternoon after MKM Partners said the company's outlook is good based on recent reports from Alphabet (GOOGL), (AMZN), Facebook (FB) and Microsoft (MSFT).

"We think expectations are intact for Intel's cloud spending to improve and accelerate based on customer buying signals and cloud investments ahead of major online events (Olympics streaming, China's singles day, Black Friday, etc.)," the firm said in a note cited by Barron's.

In Intel's recent 2016 second quarter earnings report, capital expenditure spending was 3.5% higher than estimates at $262 million.

However, Intel reported lackluster cloud results in the report. "Recall Intel's cloud business has been sluggish recently," MKM noted. Cloud was up 9% year-over-year.

Despite Intel's "sluggish" cloud business, MKM has a "buy" rating on the stock and a $40 price target.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rated this stock as a "buy" with a ratings score of B+.

The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, solid stock price performance, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company has had sub par growth in net income.

You can view the full analysis from the report here: INTC

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