RBC Capital Reiterates Sector Perform on Intel, $48 Price Target
RBC Capital analyst Srini Pajjuri reiterated a Sector Perform rating and $48.00 price target on Intel (NASDAQ: INTC).
“We expect a slight beat/raise driven by strong Server CPU demand. PC market also appears to be holding up for now.
That said, wafer supply constraints could cap NT upside while PC market faces growing headwinds from Memory tightness.
At >60x CY27PE, the stock appears to be largely trading on Foundry optimism (including TeraFab- related newsflow).
We expect 14A customer announcements in 2H26 and believe that Intel is making good progress in advanced packaging (EMIB, likely for Google).
However, material revenue contribution could take a few years and valuation leaves little margin for error. Maintain Sector Perform.”
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