Intel (NASDAQ:INTC) delivered better-than-expected Q4 results, but concerns over weak guidance, delays, and competition kept analysts cautious. Shares edged higher pre-market Friday.
Jefferies maintained a Hold rating but lowered its price target to $23 from $25, citing delays in Granite Rapids and sinking gross margins. KeyBanc Capital Markets reiterated its Sector Weight rating, expecting a tough 2025 without clear growth catalysts. Evercore reduced its price target to $22 from $26, seeing Intel's weak March quarter revenue forecast (-14% QoQ) as a way for new Co-CEOs to reset expectations.
Mizuho also trimmed its price target to $20 from $21, highlighting PC/Server market struggles, though noting benefits from the CHIPS Act and SCIP funding. For Q1, Intel guided revenue at $12.2B, missing the $12.8B consensus, blaming tariffs, macro concerns, and competition. With no major external foundry customers in sight, analysts remain skeptical about Intel's turnaround path.
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