RBC Capital Reiterates Sector Perform on Intel, $80 Price Target
RBC Capital analyst Srini Pajjuri reiterated a Sector Perform rating and $80.00 price target on Intel (NASDAQ: INTC).
“We recently hosted a well-attended investor call with CVP of IR John Pitzer.
Management expects broad-based strength in server CPUs to continue through the year, with mix driving further ASP tailwinds.
CPU density is increasing on a secular basis driven by Agentic AI and distributed inferencing.
Intel sees opportunities not only through its x86 portfolio but also via ASIC, packaging, and Foundry services.
Advanced Packaging represents a multi-billion dollar opportunity with revenue ramps starting in 2H27 (likely at GOOGL).
In Client, management sounded confident about 2H26 outlook despite weakening PC TAM given low customer inventories.
Gross margin commentary was a bit more guarded due to growing component cost headwinds.
Overall, we walked away comfortable with Intel’s near-term prospects but maintain Sector Perform due to valuation.”
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