Intel price target lowered to $25 from $28 at Stifel

Stifel analyst Ruben Roy lowered the firm’s price target on Intel (INTC) to $25 from $28 and keeps a Hold rating on the shares. Current stock returns reflect a 20-year low for Intel and the firm sees “limited downside risk to shares from here,” but also is not expecting meaningful upside catalysts in the medium-term, the analyst tells investors in a Q3 preview note. The firm views an inflection point for Intel as not likely before the company can execute on its 18A process in 2025, which could improve prospects ahead of the critical 14A node due in 2026, the analyst added. The firm views near-term results as less important relative to more detail on the company’s strategy update, Stifel also said.