Intel (INTC) PT Lowered to $14 at Rosenblatt

Rosenblatt analyst Hans Mosesmann lowered the price target on Intel (NASDAQ: INTC) to $14.00 (from $18.00) while maintaining a Sell rating.

The analyst commented: "Similar to 4Q24, Intel delivered a beat to estimates driven by what management characterized as customers purchasing ahead of potential tariffs. This has management cautious on 2Q25 demand. This led to guidance missing consensus significantly, $11.8B at the mid-point vs consensus $12.8B, and with Non-GAAP GM guided to decline 2.7 ppts q/q to 36.5%, Non-GAAP EPS is expected to be breakeven vs. consensus $0.07. While coming into the year, growth seemed possible with Management is now seeing an increasingly uncertain economic landscape. Newly appointed CEO Lip-Bu Tan is making structural changes to flatten corporate decision-making flow with a focus on customer service and reinvigorating Intel's historic innovation capabilities. We view these changes as positive long-term if successfully executed. Near-term, we expect continued market share losses in PC and server CPU. We are lowering our revenue and earnings estimates for 2025 and 2026. Our 12-month price target is now $14 based on 16x FY26 Non-GAAP EPS and maintain our Sell rating."

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