Mizuho Securities lifted its Intel price target to $135 from $128 on Sunday, June 21, while keeping a Neutral rating on the stock. The new Intel stock price view marked a 5.5% change from the prior target and implied just 0.75% upside from Intel’s current price of $133.99.
That update lands at a moment when analysts are reworking their views on Intel around packaging technology and product execution. Vijay Rakesh said advanced packaging technologies such as EMIB-T and Foveros could help Intel capture 10% to 15% of the advanced packaging market over the long term, and he tied part of that confidence to Intel’s announcement that it would work with Apple to design and manufacture chips in the U.S.
The upgrade gives investors a fresh reference point, but it also shows how cautious the market remains. Mizuho moved the target higher without moving off Neutral, which puts it closer to the middle of Wall Street than to the most bullish calls. Bernstein set an even lower $100 target on June 17, and over the past three months 25 analysts rated Intel a Buy while 11 analysts gave it a Buy rating, leaving the average 12-month target at $92.75, roughly 30% below current levels.
Rasgon said on the TechSurge podcast that he had truly seen a semiconductor supercycle for the first time, while also saying server demand is exceptionally robust. At the same time, he said Intel’s 18A product and Panther Lake are good, but yields are still not good, which leaves the hard part in front of the company: turning promising chips and packaging into volume that changes the numbers. Until Intel shows that it can do that, the target moves will keep outrunning the business itself.
