- Shares of Intel Corporation (NASDAQ: INTC) have received a price target of $60 by Mizuho Securities. These are the details.
Shares of Intel Corporation (NASDAQ: INTC) have received a price target of $60 by Mizuho Securities. And Mizuho Securities analyst Vijay Rakesh is maintaining a “Buy” rating on Intel. Rakesh is not the only analyst to assign Intel a $60 price target.
Morgan Stanley analyst Joseph Moore also assigned a price target on Intel recently. And Moore offered an “Equal-Weight” rating on Intel.
Moore had cited the receptiveness from Intel’s management and board in receiving feedback from Third Point’s activist investor Daniel Loeb. Loeb had suggested a number of changes for Intel to consider.
And Moore noted that Intel should consider the hope of recovering manufacturing leadership while deciding how much of its 7nm fab capacity should be outsourced to Taiwan Semiconductor. Plus internal value could be created through a sophisticated process when it comes to microprocessors or an aggressive migration to fab lite.
“If the company sees little hope of recovering manufacturing leadership, the use of foundry would be a clear positive,” said Moore in the report via Benzinga.
Moore acknowledged that Intel needs someone in its executive suite for helping drive customer confidence in the company roadmap. And Intel also needs stronger financial management.
“While we do see paths to value creation relative to the current path, the challenges in 2021 still look substantial,” added Moore.
Moore also pointed out that Intel’s upside case on the delivery of a process of enhanced 10 nm SuperFin and Alder Lake and Sapphire Rapids and then transitioning that to a successful 7 nm product after will be hard to prove in the next year. And the negatives like lower earnings and accelerated share loss are much more tangible.
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