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Investing.com - Mizuho has raised its price target on Intel (NASDAQ:INTC) to $39.00 from $23.00 while maintaining a Neutral rating on the stock. The semiconductor giant, currently trading at $36.37 with a market cap of $173 billion, has shown remarkable momentum with an 84% surge over the past six months, according to InvestingPro data.
The price target increase reflects Mizuho’s updated estimates for Intel, with the firm seeing potential impact from advanced packaging share capture at approximately $1.5 billion per year starting from 2026-27.
Mizuho projects additional topline benefits of approximately $4 billion annually by 2029 from NVIDIA CPU ramping, on top of Intel’s current revenue run-rate of about $50 billion.
The firm notes the potential for continued partner investments to drive improved sentiment for Intel stock.
Despite the more optimistic price target, Mizuho cautions that Intel still faces continued challenges, including server market share loss, lack of an AI roadmap, and potential gross margin pressure from its 18A technology potentially remaining at foundry TSMC.
In other recent news, Intel has announced the start of high-volume production for its next-generation Panther Lake chips in Arizona. These chips, part of the Intel Core Ultra series 3, are the first to be built on the advanced Intel 18A semiconductor process. The company has also completed a $2 billion private placement of shares to SoftBank, selling 86,956,522 shares at $23.00 each. This follows three significant investment deals, including $11.1 billion from the US administration and $5 billion from NVIDIA.
Despite these developments, HSBC has downgraded Intel’s stock from Hold to Reduce, although it raised the price target to $24.00. Meanwhile, Bernstein has reiterated a Market Perform rating with a $21 target, following reports of potential foundry talks with AMD. Deutsche Bank has also raised its price target for Intel to $30.00, citing recent balance sheet moves. These developments reflect a busy period for Intel, marked by strategic investments and production advancements.
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