JPMorgan reiterates an Underweight rating on Intel (INTC) with a $26 price target following the earnings report. Intel reported slightly better September quarter sales but lower margins and earnings, driven by a recovery in traditional data center demand while PC was muted as expected on customer inventory adjustment headwinds, the analyst tells investors in a research note. The firm says Intel “continues to navigate through a challenging period as it right-sizes the company while continuing to move forward with its technology/manufacturing product roadmaps.” It believes Intel’s mid-term 2027 targets, which were laid out in April, “appear to already be unattainable, without any indications that management likely will update its mid-term guidepost anytime soon.”
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