In a report released yesterday, Joshua Buchalter from TD Cowen maintained a Hold rating on Intel, with a price target of $20.00.
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Joshua Buchalter has given his Hold rating due to a combination of factors impacting Intel’s current and future performance. The company has reported better-than-expected top-line results, but restructuring charges have negatively affected gross margins and earnings per share. Additionally, there are concerns about Intel’s competitive position in the market, particularly with uncertainties surrounding the viability of their 14A technology, which could affect their market share.
Intel’s strategic review to streamline operations has been acknowledged, yet the company’s future remains uncertain. The guidance for the next quarter exceeds expectations, but challenges such as a high mix of outsourced wafers and competitive pressures persist. Furthermore, questions about Intel’s Foundry business and its ability to achieve leading-edge manufacturing capabilities contribute to the cautious outlook. These factors collectively justify the Hold rating as investors await clearer signs of Intel’s long-term strategic success.
In another report released yesterday, Mizuho Securities also maintained a Hold rating on the stock with a $23.00 price target.