Analysts Cut Intel Price Target Post Q4 Results

Analysts slashed their price targets on Intel Corp INTC following lackluster Q1 guidance.

• Citi analyst Christopher Danely lowered the price target to $55 from $58 (13% upside) and reiterated a Neutral.
• The company reported a strong Q4 due to strength in PCs and servers but gave "very poor" guidance due to heavy investing, a 14-week quarter, and an inventory correction in PCs. 
• He lowered estimates for Intel post the results.
• Mizuho analyst Vijay Rakesh maintained Intel with a Neutral and lowered the price target from $55 to $53 (8% upside).
• Credit Suisse analyst John Pitzer lowered the price target to $70 from $80 (43% upside) and maintained an Outperform. 
• The analyst notes Intel reported Q4 revenue and EPS well above consensus and guided Q1 revenue above estimates but EPS well below consensus on a modest gross margin miss, modestly higher TR, and significantly higher OpEx.
• Price Action: INTC shares traded lower by 5.86% at $48.66 on the last check Thursday.