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Intel was downgraded by Northland Capital Markets from ‘Outperform’ to ‘Market Perform’ The downgrade comes after Intel shares surged almost 500% over the past year, with the equity trading at $119.
Northland Capital downgraded Intel from 'Outperform' to 'Market Perform' due to overvaluation concerns.
KEY POINTS
- Northland has suspended its price target on Intel despite acknowledging measurable progress in recovery strategy.
- Even under optimistic growth scenarios, Intel would trade at 38 times projected 2027 earnings.
- Intel's enterprise value-to-EBITDA ratio is about 43.7, indicating a premium valuation amid uncertainty.
- The average 12-month price target for Intel is $86.94, implying a 26.9% downside.
COMPANIES
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