Intel price target lowered to $23 from $25 at Barclays

Barclays analyst Tom O’Malley lowered the firm’s price target on Intel (INTC) to $23 from $25 and keeps an Equal Weight rating on the shares as part of a 2025 outlook for the semiconductors and semiconductor capital equipment sector. The firm rolled out 2026 numbers and thinks 2025 will be another year defined as the artificial intelligence “have and have-nots.” Barclays is more selective on its AI preferences and likes owning stocks with proprietary serializer/deserializer technology. It still struggles to get more positive on cyclical semis, analog, PC, and handset and thinks larger recoveries take longer to materialize.