Shares of Intel Corp (NASDAQ:INTC) rallied in early trading on Friday, after the company on Thursday reported upbeat first-quarter results.
Here are the key analyst insights:
- BofA Securities analyst Vivek Arya maintained an Underperform rating, while raising the price target from $48 to $56.
- JPMorgan analyst Harlan Sur reaffirmed an Underweight rating, while lifting the price target from $35 to $45.
- Rosenblatt Securities analyst Kevin Cassidy reiterated a Sell rating, while raising the price target from $30 to $50.
- Needham analyst Quinn Bolton maintained a Hold rating on the stock.
Check out other analyst stock ratings.
BofA Securities: Intel reported strong quarter results and announced a healthy outlook, due to “accelerating demand and pricing power in server CPU driving agentic AI workloads,” Arya said in a note. He added, however, that Intel’s gross margins remained “subpar,” with the company continuing to burn cash.
Despite the meaningful earnings beat, the analyst maintained an Underperform rating, citing:
- Intel’s stock already pricing in the company’s recovery
- Management projecting sales CAGR (compounded annual growth rate) of 10%-15% for 2025-2028, well below peers at 30%-40%
- Intel’s foundry “still needs to prove for external customers”
JPMorgan: Intel’s first-quarter …