Intel (INTC) PT Lowered to $25 at Stifel

Stifel analyst Ruben Roy lowered the price target on Intel (NASDAQ: INTC) to $25.00 (from $28.00) while maintaining a Hold rating.

The analyst commented: 'Following another reset post 2Q earnings, which saw a meaningful downward revision to near-term profitability coupled with the announcement of a significant restructuring plan, we feel that key headwinds are understood. Current stock returns reflect a ~20-year low for INTC, and we see limited downside risk to shares from here. That said, we are not expecting meaningful upside catalysts to INTC shares in the medium-term, with our view being that an inflection point for INTC is not likely before the company can execute on its 18A process (2025), which could improve prospects ahead of the critical 14A node (2026). We view near-term results as less important relative to more detail on the company's strategy update, which was provided in a note to employees in mid-September. While we expect messaging to remain upbeat we continue to believe that potential long-term catalysts to the model remain far-off; reiterate Hold."

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