Mizuho Lowers Intel Price Target to $92
Mizuho analyst Siti Panigrahi lowered the price target on Intel (NASDAQ: INTC) to $92 (from $109) while maintaining a Neutral rating.
“Below we take a look at INTC following earnings.
We see tailwinds from: 1) Key server OEMs noting strong growth from the accelerating Agentic-AI demand into 2027E, driving higher token usage and improving CPU:GPU ratio, while enterprise traditional server refreshes also drives some upside, 2) CPU supply constrained, potentially undershipping demand through 2027E, with key CPU customers potentially seeing shortages into next year, 3) we estimate Adv Pkg revenue growing to $3.5B by 2029E with EMIB-T for TPU, while external foundry could also ramp to $3.5B with 14A, and 4) PC better than expected with corporate refreshes starting to materialize, with memory tightness potentially elongating the cycle.
Maintain INTC at Neutral, adjusting estimates, PT to $92 from $109 as near-term multiple compression continues to weigh on Agentic-AI players.”
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