Intel gains even as Stifel cuts price target ahead of Q3 results

Intel (NASDAQ:INTC) shares gained fractionally in premarket trading on Friday, even as research firm Stifel cut its price target and reiterated its Hold rating on the semiconductor giant ahead of its third-quarter results.
After last quarter’s disastrous results that saw a 15% decline in valuation, a meaningful restructuring plan and concerns about its long-term viability, the key headwinds are “understood,” Stifel analyst Ruben Roy said. And while there may be limited downside risk at current levels, there isn’t much to cause “meaningful upside” either, Roy added. Roy lowered his price target to $25 from $28.
If Intel were to show that it can execute on its 18A process, that could improve prospects for its 14A node, expected to come out en masse in 2026, Roy said. The messaging should remain up-beat, though any long-term catalysts are far off at this point, Roy posited.
A consensus of analysts expects Intel to lose $0.03 per share on $13.04B in revenue for the third quarter.

Tags: INTC