Analysts Cut Intel Price Target Post Q4 Results

Analysts Cut Intel Price Target Post Q4 Results
The Intel logo at the Intel stand at the 2018 CeBIT technology trade fair in Hanover, Germany, on June 12, 2018. Alexander Koerner/Getty Images
Benzinga
Updated:

Analysts slashed their price targets on Intel Corp. following lackluster Q1 guidance.

Citi analyst Christopher Danely lowered the price target to $55 from $58 (13 percent upside) and reiterated a Neutral.

The company reported a strong Q4 due to strength in PCs and servers but gave “very poor” guidance due to heavy investing, a 14-week quarter, and an inventory correction in PCs.

He lowered estimates for Intel post the results.

Mizuho analyst Vijay Rakesh maintained Intel with a Neutral and lowered the price target from $55 to $53 (8 percent upside).

Credit Suisse analyst John Pitzer lowered the price target to $70 from $80 (43 percent upside) and maintained an Outperform.

The analyst notes Intel reported Q4 revenue and EPS well above consensus and guided Q1 revenue above estimates but EPS well below consensus on a modest gross margin miss, modestly higher TR, and significantly higher OpEx.

By Anusuya Lahiri
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