Mizuho Securities raised its Intel (NASDAQ: INTC) price target from $128 to $135 on Sunday, June 21, reiterating a ‘Neutral.’
Analyst Vijay Rakesh highlighted advanced packaging technologies, including EMIB-T and Foveros, which he thinks could help Intel capture 10–15% of the advanced packaging market in the long term.
Moreover, the upgrade reflects confidence in last week’s announcement that Intel would work with Apple (NASDAQ: AAPL) to design and manufacture chips in the U.S.
The new figure represents a 5.5% change from Mizuho’s previous Intel stock price target and a modest 0.75% upside from the current price of $133.99.
Bernstein assigns a new Intel stock price target
On June 17, Stacy Rasgon at Bernstein assigned a slightly bearish $100 price target on Intel, effectively forecasting INTC would decline roughly 15% from the latest closing price at the time.
Rasgon is, however, bullish on the semiconductor industry as a whole, recently saying on the TechSurge podcast that this is the first time he has truly witnessed a semiconductor supercycle.
“I’ve kept hearing the term ‘super cycle’ for my entire career, and maybe this is the first one I’ve actually seen…The only thing we’re hearing is that nobody has enough compute,” Rasgon said.
Discussing Intel, Rasgon commented on the company’s CPU business, noting that current server demand is exceptionally robust and, like Mizuho’s Rakesh, praising product innovation, although he admitted the yields are still ‘not good.’
“Their new products – their 18A product, Panther Lake – I wish they could make more of them. The yields are still not good, but the products they’re making with them are good… The CPU server demand is really strong right now. It is so strong that last quarter they had some margin upside,” he added.
Wall Street Intel stock consensus
With their ‘Hold’ ratings, Bernstein and Mizuho are in line with the rest of Wall Street. Namely, over the past three months, 25 analysts have rated Intel a ‘Buy,’ while only 11 have given it a ‘Buy’ rating.
INTC stock price target. Source: TipRanks
Over the same period, the average Intel share price target for the next 12 months has amounted to $92.75, implying a roughly 30% decline from the current levels.
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