Intel Attempts Turnaround, Analysts ‘Remain On The Sidelines’

Intel Corp. INTC on Thursday reported better-than-expected fourth-quarter results but lowered its forward guidance for the next quarter. Analysts weighed in on the report. 

Expert Ideas: Cantor Fitzgerald analyst C.J. Muse highlighted Intel’s better-than-feared fourth quarter driven by the Intel Products side with Foundry results coming in as expected. 

The analyst also noted Intel lowered its capital expenditures guidance which he said was the “right step” in order for the company to return to positive free cash flow in 2025. Muse maintained a Neutral rating and $22 price target on Intel stock. 

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Oppenheimer analysts noted all product segments guided down by approximately 14% for the first quarter and that Intel continues to lose market share to Advanced Micro Devices, Inc. AMD in both its Client Computing Group and Data Center segments. 

Oppenheimer said it “remains on the sidelines as turnaround efforts take root” and maintained a Perform rating on Intel shares. 

Stifel analysts also pointed to the company’s reduced guidance and slow recovery and remain on the sidelines “until execution starts yielding results.” Stifel maintained its Hold rating on Intel but lowered its price target from $25 to $21. 

Several other analysts updated coverage on Intel following the fourth-quarter print: 

• JPMorgan analyst Harlan Sur maintained Intel with an Underweight and lowered the price target from $26 to $23.
• Wells Fargo analyst Aaron Rakers maintained an Equal-Weight rating but lowered the price target on Intel from $28 to $25.
• Benchmark analyst Cody Acree reiterated Intel with a Hold rating. 
• Needham analyst Quinn Bolton reiterated a Hold rating. 

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