RBC Capital Lowers Intel Price Target to $48

RBC Capital analyst Srini Pajjuri lowered the price target on Intel (NASDAQ: INTC) to $48.00 (from $50.00) while maintaining a Sector Perform rating.

“Intel’s 4Q results were better while its 1Q26 outlook was weaker. Management blamed supply constraints and sees above-seasonal growth through the rest of the year as supply improves.

Gross margin outlook also fell below our model due to early 18A ramps (suboptimal yields) and mix.

Management sounded optimistic about Foundry progress and commentary points to a potential 14A customer announcement in 2H26.

However, meaningful revenue contribution appears less likely until late 2028. We are lowering estimates, lowering our PT from $50 to $48, and are maintaining Sector Perform.”

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