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Analysts slashed their price targets on Intel Corp (NASDAQ: INTC) following lackluster Q1 guidance.
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Citi analyst Christopher Danely lowered the price target to $55 from $58 (13% upside) and reiterated a Neutral.
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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.
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He lowered estimates for Intel post the results.
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Mizuho analyst Vijay Rakesh maintained Intel with a Neutral and lowered the price target from $55 to $53 (8% upside).
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Credit Suisse analyst John Pitzer lowered the price target to $70 from $80 (43% upside) and maintained an Outperform.
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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.
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Price Action: INTC shares traded lower by 5.86% at $48.66 on the last check Thursday.
Latest Ratings for INTC
| Jan 2022 | UBS | Maintains | Neutral | |
| Jan 2022 | Credit Suisse | Maintains | Outperform | |
| Jan 2022 | Mizuho | Maintains | Neutral |
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