In a report released today, Joseph Moore from Morgan Stanley maintained a Hold rating on Intel, with a price target of $23.00.
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Joseph Moore has given his Hold rating due to a combination of factors surrounding Intel’s strategic direction and operational challenges. One of the main concerns is Intel’s foundry strategy, particularly the development of the 14A process, which is contingent on securing a major foundry customer. This situation leaves Intel in a precarious position, as it is not fully committed to the foundry business, creating uncertainty about its future direction.
Additionally, while Intel is making efforts to improve its microprocessor competitiveness and has shown discipline in spending, there are structural questions about its ability to invest in future technologies without external demand. The company’s conservative forecasting and the need for a significant foundry customer to justify investment in 14A technology further complicate the outlook. These factors contribute to the Hold rating, as they reflect both potential upside and inherent risks in Intel’s current strategy.
Moore covers the Technology sector, focusing on stocks such as Nvidia, Marvell, and Micron. According to TipRanks, Moore has an average return of 12.4% and a 58.14% success rate on recommended stocks.
In another report released today, Barclays also maintained a Hold rating on the stock with a $19.00 price target.