Benchmark has increased its price target for Intel Corporation (NASDAQ: INTC) to $57.00 from a previous $50.00, while maintaining a Buy rating on the stock. This revised target indicates a potential upside relative to Intel's current trading price of $54.32, which remains just under one percent below its 52-week peak of $54.60.
This upward revision follows the announcement of Intel's fourth-quarter financial results, which surpassed analyst expectations. The company reported revenue totaling $13.674 billion, exceeding forecasts by $236 million. Additionally, Intel delivered earnings per share (EPS) of $0.15 for the quarter, outperforming consensus estimates by $0.07.
Despite these encouraging financial outcomes, Intel's shares experienced a decline of up to 12% in after-hours trading. Benchmark attributed this drop primarily to a less optimistic outlook for the first quarter. Cody Acree, an analyst at Benchmark, characterized the stock pullback as "well deserved profit taking," noting that Intel's shares had appreciated roughly 150% over the past year and nearly 50% since the beginning of January.
Additional analyst opinions reflect a spectrum of viewpoints regarding Intel's near-term prospects. Needham Associates upheld its Hold rating, citing persistent supply constraints as a limiting factor despite the strong fourth-quarter results. Meanwhile, JPMorgan raised its price target to $35 but retained an Underweight rating, emphasizing increasing demand for server CPUs and pointing to a possible easing of supply limitations by the second quarter.
Northland Capital Markets increased its price target to $54 while maintaining an Outperform rating, highlighting the company's Non-GAAP EPS upside even with a reduced first-quarter guidance. Rosenblatt Securities adjusted its price target to $30 and kept a Sell rating, noting the potential positive impact of securing an external foundry customer.
Cantor Fitzgerald reiterated a Neutral rating and a $45 price target, expressing surprise at Intel’s substantial stock price appreciation this calendar year. Collectively, these varied assessments demonstrate the market's continued interest in Intel alongside differing perspectives on its future trajectory amid operational challenges and market demands.