Intel CEO Gelsinger forced out after board lost confidence in turnaround plan

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Go back to Intel CEO Gelsinger forced out after board lost confidence in turnaround plan

Evercore ISI Reiterates In Line Rating on Intel (INTC)

December 3, 2024 5:18 AM EST

Evercore ISI analyst Mark Lipacis reiterated an In Line rating and $26.00 price target on Intel (NASDAQ: INTC).

The analyst comments "We reiterate our In Line rating post Intels announcement that its CEO retired. The board recognized the progress made under Gelsingers leadership in closing the transistor gap with TSMC, but our sense it was frustrated that the improving transistor technology did not manifest in a reversal in share loss, and wants a new CEO to focus on products. The CPU market has been flattish with increasing competition and while we... More

Stifel Reiterates Hold Rating on Intel (INTC), 'No change to investment thesis'

December 2, 2024 10:55 AM EST

Stifel analyst Ruben Roy reiterated a Hold rating and $25.00 price target on Intel (NASDAQ: INTC).

The analyst comments "INTC announces retirement of CEO Pat Gelsinger. Prior to market open, INTC announced that CEO Pat Gelsinger retired from the company and stepped down from the Board effective December 1st. David Zinsner (EVP and CFO) and Michelle Johnston Holthaus (previously EVP and GM of the Client Computing Group), were named Interim Co-Chief Executive Officers, with Ms. Johnston... More