Bank of America downgrades Intel to Neutral and cuts price target to $100
Bank of America lowered its rating on Intel to Neutral and reduced its price target from $145 to $100. The downgrade follows Intel's third‑quarter earnings, where adjusted EPS was $0.52 and revenue rose 21% YoY to $16.5 billion. BofA cited a sharp drop in PC shipments and supply constraints as reasons the turnaround is delayed, and it trimmed its 2027 and 2028 EPS forecasts to $1.69 and $2.79 respectively. The firm also forecast fourth‑quarter revenue of $15 billion‑$16 billion, below consensus.
Why it matters
BofA said the new $100 target implies a market value of about $550 billion, suggesting further downside pressure on the stock. The cut to EPS forecasts signals lower earnings expectations for 2027‑2028.
Key facts
- 1BofA cut Intel's price target to $100 from $145, a 31.0% decrease. tradingview.com
- 2Adjusted earnings for Q3 were $0.52 per share, beating estimates of $0.40. investing.com
- 3Revenue rose 21% year over year to $16.5 billion. investing.com
- 4Intel forecast Q4 revenue of $15 billion to $16 billion. investing.com
- 5BofA lowered its 2027 EPS estimate to $1.69 and its 2028 EPS estimate to $2.79. investing.com
- 6The stock was down more than 25% pre‑market on the downgrade day. investing.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.