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Bank of America maintains an “Buy” rating on Intel, with a $160 price target

MarsBitNews
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Mars Finance reported that on July 24, Bank of America maintained its “Buy” rating on Intel (INTC) and a $160 price target. Bank of America said Intel’s second-quarter results beat expectations and it raised guidance, again validating two core supports for its bullish thesis. Discussions between Intel and external foundry customers have entered a more specific stage and are driving an expansion of capital expenditures, which could benefit semiconductor equipment companies. Intel’s core server CPU business is actively participating in the agentic AI cycle, with data center revenue up 59% year over year, the highest growth rate in the past 15 years. Intel’s advanced process manufacturing capabilities in the United States, along with strong support from the White House, still constitute its long-term competitive advantage. On risks, the market needs to watch whether Intel will finance capital expenditures through capital market measures such as additional share issuance. However, the company can also raise funds by selling non-core assets or collecting potential customer advance payments.
INTC-7.64%
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