Baird Reaffirms Neutral on Intel, $20 Price Target
- Rating
- Neutral
- Unchanged
- Target
- $20
- Outcome
- Reached
- on January 30, 2025
What the analyst said
Baird analyst Tristan Gerra reiterated a Neutral rating and $20 price target on Intel (NASDAQ: INTC).
“There are discussions from the Asia supply chain that the U.S. government will get involved in potentially the following: TSMC would send engineers to Intel’s 3nm/2nm fab, applying the company’s know-how to ensure that the fab and subsequent manufacturing projects from Intel become viable.
The fab could be spun off into a new entity jointly owned by TSMC and Intel, and run by TSMC. The new entity would receive U.S. Chip Act funding.
While there is no confirmation and potential completion of this project could be lengthy, we think this move makes sense, further building on Intel’s prior CEO’s focus on the company’s core competency, manufacturing.
Going forward, Intel would benefit from significant cash flow relief, and would focus on design and platform solutions, while a viable fab could finally attract key fabless companies to diversify into a geo-dependable manufacturing model.”
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Where the price stands
INTC trades at $92.07. The 12 analysts who set a target in the last 3 months range from $85 to $165, with a median of $111. This $20 target is 82% below the median, the lowest on the Street.
Since the note INTC has moved +339% (from $20.97). The 12-month window closed on February 12, 2026.
Track record
This call✓ Target reached on January 30, 2025, 0 days after the note. Same target as this firm’s January 30, 2025 note, so it is scored there.
Firm track recordBaird: 95% of its 21 targets at least a year old were reached within 12 months (#1 of 21 firms); on Intel, 3 of 3. Accuracy ranking →
Baird on Intel
Baird price targets on Intel
7 calls from January 30, 2025 to July 24, 2026. The target went from $20 to $125 (+525%). The rating stayed Hold.
- July 24, 2026Target raised from $75 (+67%)Hold$125
- April 24, 2026Target raised from $50 (+50%)Hold$75
- January 23, 2026Target raised from $40 (+25%)Hold$50
- October 24, 2025Target raised from $20 (+100%)Hold$40
- April 14, 2025Kept the $20 targetHold$20
- February 12, 2025 This noteKept the $20 targetHold$20
- January 30, 2025Earliest call shownHold$20
