KeyBanc Keeps Sector Weight on Intel, $35 Price Target
- Rating
- Sector Weight
- Unchanged
- Target
- $35
- Outcome
- Reached
- on November 17, 2025
What the analyst said
KeyBanc analyst John Vinh reiterated a Sector Weight rating and $35 price target on Intel (NASDAQ: INTC).
“For INTC, we anticipate better 3Q results and higher 4Q guidance.
We expect INTC to benefit from broad-based server strength and customer upgrades to Granite Rapids, which has shown a meaningful ramp of public cloud deployments in recent months based on our monthly cloud instance tracker.
Our view is that server demand continues to strengthen into 2H despite 1H tariff-related pull ins, with traditional server upgrades being driven by the introduction of latest-generation server CPUs, including INTC’s Granite Rapids and AMD’s Turin.
For 2025, we estimate total server shipments to be +4% y/y.
Regarding foundry, we believe manufacturing yields for Intel 18A have stalled out at 50-55%, likely to delay a volume ramp of Panther Lake until 2Q26.”
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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 $35 target is 68% below the median, the lowest on the Street.
Since the note INTC has moved +149% (from $37.01). The 12-month window closed on October 20, 2026.
Track record
This call✓ Target reached on November 17, 2025, 28 days after the note.
Firm track recordKeyBanc: 88% of its 16 targets at least a year old were reached within 12 months (#8 of 21 firms); on Intel, 2 of 2. Accuracy ranking →
KeyBanc on Intel
KeyBanc price targets on Intel
8 calls from April 1, 2025 to April 24, 2026. The target went from $23 to $110 (+378%). The rating moved from Hold to Buy.
- April 24, 2026Target raised from $70 (+57%)Buy$110
- April 6, 2026Target raised from $65 (+8%)Buy$70
- January 23, 2026Target raised from $60 (+8%)Buy$65
- January 13, 2026Upgraded to Buy, target raised from $35 (+71%)Buy$60
- October 20, 2025 This noteTarget raised from $23 (+52%)Hold$35
- September 17, 2025Rating only, no price targetHoldNo target
- April 8, 2025Rating only, no price targetHoldNo target
- April 1, 2025Earliest call shownHold$23
