Mizuho Securities reduced its price target on Intel to $92 from $109 while maintaining a Neutral rating, citing near-term multiple compression affecting Agentic-AI-related players.
The firm’s revised target aligns closely with Intel’s current share price of $91.67, reflecting limited valuation expansion despite the stock’s sharp gains over the past year. Intel’s shares have surged 275% over the past 12 months and 144% year-to-date, outpacing broader semiconductor benchmarks.
Analysts at Bernstein SocGen raised their target to $110 from $100, keeping a Market Perform rating, while Baird lifted its target to $125 from $75. InvestingPro’s compilation of analyst targets spans a wide range from $75 to $200.
Intel reported second-quarter revenue of $16.1 billion, exceeding consensus estimates of $14.4 billion, with earnings per share of $0.42 versus expectations of $0.21. Client segment revenue reached $8.9 billion, surpassing estimates by roughly $900 million, driven by higher average selling prices.
CEO Lip-Bu Tan announced a $20 billion common stock offering, with plans to purchase $12 million in company shares. Demand for the offering was strong, with about one-third of investors not receiving allocations.
Mizuho projects Intel’s advanced packaging revenue could reach $3.5 billion by 2029, supported by EMIB-T for TPU, while external foundry operations revenue may hit $3.5 billion with 14A technology. The firm also noted potential CPU supply constraints through 2027, which could limit shipments despite robust demand.
At a Jefferies semiconductor conference, Coherent Corp. highlighted extraordinary demand for optical components, expected to exceed supply for 12 to 18 months, potentially requiring expanded production capacity.
