Intel Corp (NASDAQ: INTC) shares tanked in early trading on Friday, despite the company reporting stronger-than-expected sales and earnings for its fourth quarter.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.
Needham On Intel
Analyst Quinn Bolton downgraded the rating from Buy to Hold.
Intel unexpectedly reset its first-quarter earnings guidance and its core data center segment continues to face challenges, Bolton said in a note.
“After a string of success, it seems the easy part of the turnaround may be over,” the analyst wrote. “We view higher valuation, lower revenue/EPS estimates, increasing competition (in core and non-core markets), and distant IFS revenue all contributing to a tough road ahead,” he added.
Wedbush On Intel
Analyst Matt Bryson reaffirmed a Neutral rating while reducing the price target from $45 to $40.
Although Intel reported strong fourth-quarter results, its first-quarter guidance came in significantly …
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