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<Research>UBS Lifts Intel (INTC.US) TP to USD65; 14A PDK Becomes Key Catalyst
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UBS published a research report on Intel (INTC.US), which saw resilient PC demand, with server CPU demand also swelling. The company raised prices by about 10%, and further price increases were expected within the year, particularly in the enterprise server. The broker slightly raised its 1Q revenue forecast for the group from the previous USD12.2 billion to USD12.5 billion, while maintaining its EPS forecast at USD0.06. For 2026-28, revenue forecasts were lifted from USD51.1 billion, USD52.4 billion and USD56.1 billion to USD53.1 billion, USD55.1 billion and USD58.5 billion, respectively. EPS forecasts were also revised up from USD0.35, USD0.6 and USD0.92 to USD0.44, USD0.75 and USD1.05, respectively. UBS noted that Intel's foundry business outlook is improving, particularly in relation to its 14A process technology. It expected customers including Google, Apple (AAPL.US), AMD (AMD.US) and NVIDIA (NVDA.US) to sign foundry commitments this fall. In addition, the potential scenario of merging the Ohio wafer fab project with Elon Musk's TeraFab adds confidence to the long-term prospects of the foundry business. UBS maintained a Neutral rating on Intel, raising its TP from USD51 to USD65. Auto-translated by AI AASTOCKS Financial News |
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