Bank of America Intel · INTC

BofA Lowers Intel Price Target to $19

Analyst: Vivek Arya 1 min read Reproduced verbatim
Rating
Underperform
Target
$19
from $21 (−10%)
Outcome
Reached
on April 8, 2025
Bank of America and Intel logos

What the analyst said

BofA Securities analyst Vivek Arya lowered the price target on Intel (NASDAQ: INTC) to $19 (from $21) while maintaining an Underperform rating.

“Intel (INTC) beat Q4 which helped stabilize the stock post-close, but the beat came from a pull-ahead of sales related to customer worries around impending tariffs.

The ~$450mn sales beat in Q4 was more than offset by a $600mn miss vs. cons for Q1E.

Weaker Q1 sales and continued high input costs (more PC outsourced to TSMC) resulted in GM heading to 36% (likely record low) and 330bps below cons 39.3%.

INTC did not guide for CY25 overall, but did warn of continued GM headwind in product (aggressive pricing to retain share – negative for AMD).

Separately INTC pushed out its Clearwater Forest server CPU by 6mo+ to 1H26, though it kept its 18A roadmap on track.

Capex was lowered to $20bn (vs. $21.5bn prior) though that’s better than feared, while INTC continued to maintain partnership with external partners (positive for EDA vendors SNPS/CDNS).

Overall we lower CY25/26 pf-EPS by 36%/33% to 56c/91c. Lower PO to $19 from $21 based on 21x CY26E PE (vs.

15x prior), inline with SOX index, and as we see greater certainty for INTC funding from CHIPS Act, plus potential for continued restructuring actions under new management.”

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The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.

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Where the price stands

INTC trades at $59.97. The 27 analysts who set a target in the last 3 months range from $70 to $165, with a median of $90. This $19 target is 79% below the median, the lowest on the Street.

Since the note INTC has moved +200% (from $20.01). The 12-month window closed on January 31, 2026.

Track record

This call✓ Target reached on April 8, 2025, 2 months after the note.

Firm track recordBank of America: 82% of its 49 targets at least a year old were reached within 12 months (#8 of 26 firms); on Intel, 4 of 4. Accuracy ranking →

Bank of America on Intel

Bank of America price targets on Intel

8 calls from January 31, 2025 to January 23, 2026. The target went from $19 to $40 (+111%). The rating stayed Sell.

Bank of America targetINTC share price
  1. January 23, 2026Target raised from $34 (+18%)Sell$40
  2. October 13, 2025Downgraded to Sell, target raised from $25 (+36%)Sell$34
  3. July 23, 2025Kept the $25 targetHold$25
  4. April 14, 2025Kept the $25 targetHold$25
  5. April 1, 2025Kept the $25 targetHold$25
  6. March 13, 2025Upgraded to Hold, target raised from $19 (+32%)Hold$25
  7. February 18, 2025Kept the $19 targetSell$19
  8. January 31, 2025 This noteEarliest call shownSell$19
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Other analysts on Intel

BarclaysHold Cut price target −25%, kept rating Nov 2 $75from $100 Freedom BrokerHold Downgraded, cut price target −10% Oct 30 $90from $100 TD CowenHold Cut price target −21%, kept rating Oct 30 $75from $95 JP MorganHold Cut price target −6%, kept rating Oct 30 $80from $85 RBC CapitalHold Cut price target −25%, kept rating Oct 30 $75from $100
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.