Mizuho Securities analyst Vijay Rakesh lowered Intel's price target to $92 from $109. The firm maintained its Neutral rating on the shares. The revision reflects concerns regarding near-term multiple compression for companies involved in agentic artificial intelligence.
The analyst note identified several growth drivers despite the lower target. Agentic-AI adoption is fueling strong demand for servers. Constrained CPU supply is expected to persist through 2027.
Corporate refreshes are driving a better-than-expected recovery in the PC market. Intel also expects revenue growth from its advanced packaging and external foundry services.