Wall Street updates its ratings and price targets on Intel $INTC following its Q3 earnings, with mixed reactions to weaker guidance:
KGI Securities: Upgraded Neutral → Outperform ($95) – Upgraded its outlook on Intel.
Roth Capital: Downgraded Buy → Neutral, PT $120 → $70 – Manufacturing constraints and weaker guidance limit data center upside.
BofA: Downgraded Buy → Neutral, PT $145 → $100 – PC weakness and limited external foundry traction delay Intel’s turnaround.
Jefferies: $120 → $85 (Hold) – PC inventory reductions and weaker client demand pressure revenue, margins, and earnings.