KeyBanc Raises Intel Price Target to $70

KeyBanc analyst John Vinh raised the price target on Intel (NASDAQ: INTC) to $70.00 (from $65.00) while maintaining an Overweight rating.

“Positive (Asia) takeaways include: 1) Server CPU demand remains outsized; 2) INTC increases pricing twice for both server and client CPUs; 3) 18A yields continue to improve to 65% as Panther Lake ramp continues; 4) Wins 14A design win at AAPL for low-end Mseries processor for MacBook and iPad; 5) Google’s “Humu Fish” TPU will use EMIB-T, which we size at $4B-$5B in revenues.

We remain Overweight and raise our price target from $65 to $70, or 3.4x EV/S on our 2027 revenue estimate of $70.8B.”

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