Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Anusuya Lahiri

Why Intel Shares Are Trading Lower Today

  • Intel Corp (NASDAQ:INTCshared its 2022 and long-term growth strategy at its investor meet.
  • After attending Intel's analyst day, BofA analyst Vivek Arya said the company "laid out an ambitious plan" to drive double EPS growth through 2026. 
  • He expects bulls to focus on its commitment to process leadership, large and growing total addressable markets, and better than expected financial targets. 
  • However, he kept an Underperform rating and $52 price target (9.3% upside) on Intel shares as he argues process leadership by 2025 "assumes flawless execution on five nodes in four years," which he thinks will be difficult. 
  • He sees no reward until 2026 for what Arya describes as Intel's "bold but high-risk plan."
  • Barclays analyst Blayne Curtis lowered the price target on Intel to $45 from $50 (5.4% downside) and kept an Underweight
  • The analyst says Intel's 2022 investor meeting "fell flat" as the 2022 guidance was below estimates with no free cash flow expected through 2024, "even on unrealistic growth targets."
  • Price Action: INTC shares traded lower by 5.75% at $44.84 in the market on the last check Friday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.