Intel (NASDAQ: INTC) received an upgrade on Monday, April 6, with KeyBanc raising its price target on the firm from $65 to $70 and keeping an “Overweight” rating.
Most notably, the bank’s analyst, John Vinh, argued that Intel’s server CPU demand remains exceptional, even as the management has raised the prices twice.
Similarly, 18A yields continue to improve, rising to 65% as Panther Lake microprocessor ramp-up continues, while 14A processors tied to Apple’s (NASDAQ: AAPL) M-series chips and EMIB-T advanced packaging adopted by Alphabet’s (NASDAQ: GOOGL) Humu Fish TPU could deliver $4–5 billion in revenue.
Following the new price target, which implies an upside of approximately 39%, INTC shares jumped 1.5% in pre-market, extending Intel’s rally further and bringing the prices up nearly 28% year-to-date.
Wall Street mixed on Intel
While Intel shares have been on a tear, Vinh’s price upgrade was the first one since January 28, when Tigress Financial raised its own forecast from $52 to $66. In the meantime, most analysts kept reiterating their ratings and predictions.
On April 6, Mizuho Securities also doubled down on its “Hold” rating and INTC share price target of $48. A few days earlier, on April 2, D. A. Davidson also reiterated a “Hold” rating, with a price forecast of $45.
At the same time, Northland called Intel a “Buy” with a $54 prediction, while Wells Fargo and UBS dubbed it a “Hold,” with respective price targets of $45 and $51.
Overall, Intel stock enjoys an average price target of $48.07, which suggests a -4.58% downside from the current levels, according to Wall Street note tracking platform TipRanks.
Of the thirty-three analysts that have shared their opinions on the tech company over the past three months, twenty-three have suggested “Holding,” four have recommended “Selling,” while six were in favor of “Buying.”
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