Truist Raises Intel Price Target to $81

Truist Securities analyst William Stein raised the price target on Intel (NASDAQ: INTC) to $81.00 (from $49.00) while maintaining a Hold rating.

“Culture is leading the way. We view culture as the most important driver of company performance, and while the improvement has taken time, CEO Lip-Bu Tan has been making progress.

Now, it’s showing up in customer relationships and financial results. With the prospects of better structural demand for X86 from AI, we are positively inclined.

What is still very challenging is valuation. We take our average CY29 EPS to $2.23 (from $1.85) and PT to $81 (fr $49) based on an increasingly optimistic 45x.

For now, it’s too difficult to make the math work to justify a more optimistic view. Hold.

Key derivative: for x86 strength with GPU traction, favor AMD (Buy).”

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