Intel (INTC) PT Raised to $105 at Benchmark
Benchmark analyst Cody Acree raised the price target on Intel (NASDAQ: INTC) to $105.00 (from $76.00) while maintaining a Buy rating.
The analyst commented, "Intel’s shares jumped roughly 20% after hours as investors weighed two questions: how much of the March upside came from one-time finished-goods cleanup and previously reserved inventory, and how much reflected a real improvement in factory output feeding stronger CPU demand. We think the report leaned clearly toward the latter. While the quarter definitely benefited from inventory monetization, we believe the bigger message was that output improved faster across Intel 7/10, Intel 3/4, and 18A, while demand in server CPUs remains ahead of supply and is being reinforced by inference and agentic AI workloads. Other central themes included Intel’s significantly improving yields at 18A and 14A, increased foundry engagement confidence on 14A, and advanced packaging opportunities accelerating into the billions vs prior hundreds of millions. As we believe Intel continues to be in the early stages of its multi-year turnaround, with material manufacturing improvements and structural AI-driven CPU demand tailwinds, we reiterate our Buy rating and are increasing our Price Target to $105 from $76, or 50.7x our new FY28 EPS estimate of $2.07."