TD Cowen has upheld a Hold rating for Intel Corporation (NASDAQ: INTC), matching it with a price objective of $50 per share in response to the chipmaker’s recent earnings release that aligned with market forecasts but provided revenue and margins outlooks that fell short of expectations.
The research firm observed that Intel's recent stock appreciation appears to be fueled more by optimistic projections about its long-term growth than by the underlying financial performance or immediate sales momentum. This cautious stance reflects concerns over sustainability amid industry headwinds.
While TD Cowen remains wary about the forecasted trajectory, noting downticks in anticipated margins and tempering revenue growth estimates for fiscal years 2026 and 2027, they also acknowledge that the company’s potential should not yet be discounted completely. The adjustment effectively challenges prevailing enthusiastic sentiments that previously bolstered Intel's share price.
The firm's updated price target implies a valuation multiple near 60 times earnings and about 4.7 times enterprise value relative to sales based on the 2027 fiscal outlook, indicating tempered expectations on profitability and growth.
Recent corporate financial disclosures reveal Intel generated $13.674 billion in revenue during the fourth quarter, surpassing analyst predictions by $236 million. This performance elicited positive reactions from some market participants; for instance, Benchmark Capital raised its price target to $57 while maintaining a Buy recommendation.
Conversely, other analysts have exhibited caution. Needham reiterated its Hold rating due to guidance figures that did not align fully with their forecasts, and Cantor Fitzgerald sustained a Neutral rating and set a $45 price target, remarking on the surprising 47% year-to-date increase in Intel’s stock value.
Rosenblatt Securities increased its price target from $25 to $30 but maintained a Sell rating, citing ongoing anticipation of favorable future announcements from Intel. Northland Capital Markets also lifted its price objective from $46 to $54 and maintained an Outperform rating, spotlighting potential upside in Intel’s Non-GAAP earnings per share.
This spectrum of analyst perspectives underscores a mixed market interpretation of Intel’s current operational performance and outlook.