Bernstein Lowers Intel Price Target to $21
- Rating
- Market Perform
- Target
- $21
- from $25 (−16%)
- Outcome
- Reached
- on April 24, 2025
What the analyst said
Bernstein SocGen Group analyst Stacy Rasgon lowered the price target on Intel (NASDAQ: INTC) to $21 (from $25) while maintaining a Market Perform rating.
“For Intel we adjust estimates, putting in a bit of client-related upside in the 1H to reflect potential for pull-forward / channel fill in the wake of tariff dynamics, but now followed by a 2H channel flush; we also take our 2025 PC growth assumptions from +LSD to flat YoY.Where to begin…While we see potential for a bit of near-term upside on the back of tariff dynamics, we doubt anyone is going to buy the stock for it (the pull-forward narrative seems easy to make).
In the meantime though new management has signed up for a challenge.
It feels early to get “the plan” from Lip-Bu at this point, though we might expect at least some hints, as well as potential for further cost cuts, but right now it seems the general idea is to continue along the path set by his predecessor (i.e. stem the bleeding, focus on both products and foundry, and try to get 18A out the door).
The environment feels less supportive however, with key end market products in the tariff crosshairs (and a China response that appears targeted at US national champions), a still-harsh competitive environment in core products, possible margin risks, and little to no AI story to help buffer things.
The stock feels more like an event-driven narrative at this point; we would avoid it. PT to $21, MP.”
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Where the price stands
INTC trades at $94.32. The 11 analysts who set a target in the last 3 months range from $85 to $165, with a median of $112. This $21 target is 81% below the median, the lowest on the Street.
Since the note INTC has moved +401% (from $18.84). The 12-month window closed on April 22, 2026.
Track record
This call✓ Target reached on April 24, 2025, 2 days after the note.
Firm track recordBernstein: 80% of its 20 targets at least a year old were reached within 12 months (#16 of 21 firms); on Intel, 4 of 5. Accuracy ranking →
Bernstein on Intel
Bernstein price targets on Intel
8 calls from January 31, 2025 to April 16, 2026. The target went from $25 to $60 (+140%). The rating stayed Hold.
- April 16, 2026Target raised from $36 (+67%)Hold$60
- January 21, 2026Target raised from $35 (+3%)Hold$36
- October 24, 2025Target raised from $21 (+67%)Hold$35
- August 15, 2025Kept the $21 targetHold$21
- April 22, 2025 This noteTarget cut from $25 (−16%)Hold$21
- April 1, 2025Kept the $25 targetHold$25
- March 3, 2025Kept the $25 targetHold$25
- January 31, 2025Earliest call shownHold$25
