Truist Securities Raises Intel Price Target to $49
Truist Securities analyst William Stein raised the price target on Intel (NASDAQ: INTC) to $49.00 (from $39.00) while maintaining a Hold rating.
“Confidence on demand, 14a, sets up a better narrative, but valuation is tricky; The narrative is better now, but justifying upside from here is challenging. INTC delivered solid upside vs.
Q4 expectations (DCAI revs, margins, & EPS), but guided Q1 measurably below consensus as supply constraints and elevated costs weigh (aligning with our CES notes).
Looking forward, INTC sounds markedly more bullish on demand and on signing an external customer on 14a.
Lower profitability from COGS & non-controlling interest lead us to take CY27 to $0.87 (from $1.00). PT to $49 (from $39) based on higher CY29 earnings (14a foundry ramp). Hold.
Key derivative: for x86 strength with GPU traction, favor AMD (Buy).”
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