Citi analyst Christopher Danely maintained a Hold rating on Intel (INTC – Research Report) today and set a price target of $21.00.
Christopher Danely has given his Hold rating due to a combination of factors impacting Intel’s performance and outlook. Intel’s recent financial results were slightly better than expected, with revenue and earnings surpassing consensus estimates primarily due to stronger data center CPU sales. However, the company provided guidance that fell short of expectations, citing anticipated challenges from tariff-related issues and potential market share losses.
Danely acknowledges Intel’s efforts in restructuring and reducing operational expenses, which are positive steps. Nonetheless, he expresses concerns over Intel’s continued commitment to the merchant foundry business, which he believes could lead to further financial losses. As a result, he has lowered revenue and earnings estimates for the upcoming quarters, maintaining a Neutral stance on the stock with a price target that reflects these challenges.
In another report released today, HSBC also maintained a Hold rating on the stock with a $22.00 price target.