In a report released today, Christopher Rolland from Susquehanna reiterated a Hold rating on Intel, with a price target of $45.00.
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Christopher Rolland has given his Hold rating due to a combination of factors that balance improving fundamentals with meaningful strategic risks. He sees near‑term upside to results from stronger PC demand, aided by Windows end‑of‑life and favorable memory dynamics, as well as a shift in wafer capacity toward higher-value server products that should support better data center performance into 2026. The ramp of AI PCs and Panther Lake CPUs is positive for revenue, but these products carry less attractive margins, limiting the scope for gross margin expansion. He also views recent foundry customer interest and improving confidence in Intel’s 14A roadmap as encouraging, yet still too early to underwrite a more aggressive re‑rating.
At the same time, Rolland highlights structural headwinds that constrain upside and justify a Neutral stance despite raising the price target from $40 to $45. Intel continues to cede share to AMD in server CPUs, and the growing adoption of ARM-based solutions, including GB200/300 and custom hyperscaler chips, threatens Intel’s role in the data center and AI ecosystem. While he expects data center revenue to grow solidly as wafer shifts benefit server supply, these share losses and competitive pressures cap the potential benefit. Taken together, he views the setup as one of Intel’s better quarters in some time, but with a “low bar” and enough competitive and execution risk to maintain a Hold rating rather than move to a more constructive recommendation.
Rolland covers the Technology sector, focusing on stocks such as ON Semiconductor, Advanced Micro Devices, and Intel. According to TipRanks, Rolland has an average return of 21.5% and a 58.63% success rate on recommended stocks.
In another report released today, HSBC also upgraded the stock to a Hold with a $50.00 price target.