Mizuho Raises Intel Price Target to $59

Mizuho analyst Vijay Rakesh raised the price target on Intel (NASDAQ: INTC) to $59.00 (from $48.00) while maintaining a Neutral rating.

“We take an updated look ahead of earnings with increasing Server CPU demand as Agentic AI trends proliferate.

Key takeaways: 1) Strong demand for Server CPUs 2026-27E potentially benefiting INTC, with ARM (OP, $230PT) noting core counts up 4x from 30M/GW today to 120M/GW by 2030E, 2) growing demand from enterprise for agentic AI, potentially driving 10-15%+ Server CPU ASP increases y/y, 3) PC headwinds persisting in 2026E, units down 10-15% y/y, with memory constraints though potential to shift CPU capacity from PC to Servers could offset, and 4) foundry continues to be L-T focus, with EMIB-T rolling out in 2026E and potential external 14A customers in 2H26E.

Reiterate INTC at Neutral, raise ests/PT to $59 (prior: $48), as we see INTC benefiting from N-T server demand though increasing CPU competition a longer term headwind.”

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