TD Cowen reiterates Intel stock rating on foundry progress view

TD Cowen maintains a Hold rating on Intel stock (NASDAQ:INTC) with a $115.00 price target, as the company's shares have surged 293% over the past year. Intel's Products division is deemed the most crucial driver of value, while the foundry progress is important but not the primary factor. Analysts believe investors need visibility into more than $100 billion in Products revenue and over $20 billion in Foundry revenue.

Intel generated $57 billion in revenue last year. Intel CEO Lip-Bu Tan joined TD Cowen as an adviser, following a $85 million funding round for Ultraviolette, an Indian electric motorcycle manufacturer. Tigress Financial Partners raised its price target for Intel to $145 from $118, citing the Terafab partnership as a key factor in improving Intel's AI-driven turnaround.

Piper Sandler initiated coverage with a Neutral rating and $110 price target, highlighting Intel's advantage in CPU server products, despite concerns about the PC memory market. Citi boosted its outlook for the semiconductor sector, noting gains in Intel and other stocks.