Deutsche Bank Raises Intel Price Target to $45

Deutsche Bank analyst Ross Seymore raised the price target on Intel (NASDAQ: INTC) to $45.00 (from $35.00) while maintaining a Hold rating.

“Intel delivered a solid 4Q25 report (revs ~+3% > DBe) but a rather disappointing 1Q26 guide (revs -11% q/q, at low end of seasonal), as the company cited supply constraints (both internal and external) as the primary gating factor in their ability to address surging demand (especially in Data Center Server CPUs).

Importantly, the company noted that these supply constraints would be at their worst in 1Q26 and improve thereafter (via better yields, cycle times, general execution, etc.), likely resulting in “above seasonal” revenue growth in 2Q-4Q26.

From a manufacturing/ foundry perspective, the company generated positive progress as highlighted by their launch of 3 Panther Lake SKUs on 18A (vs target of 1), with active external 14A engagements having the potential to move into the contractual phase in 2H26-1H27 (albeit with true revenue volumes not until 2028).”

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