Analyst Set New $165 Price Target for Intel Stock
The Melius Research target follows a 157% stock gain this year as investors weigh the company's future foundry strategy.
Updated on Sept. 18, 2026 in Stock Picks
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Melius Research analyst Ben Reitzes reiterated a Buy rating on Intel with a $165 price target, projecting the stock could reach $200 within two years. The update follows a year of significant movement for the chipmaker, which saw its stock price rise 157% throughout 2026.
Why it matters
The firm's bullish outlook relies on Intel successfully securing high-volume commitments for its 14A process and growing product earnings above $4 per share. This valuation approach highlights the importance of the company's dual-entity model as it works to scale advanced production.
Intel stock has climbed 157% year-to-date and recently raised $20 billion through a share sale at $95 per share. Analysts remain divided on the outlook, with seven rating the stock a Buy, twenty-three a Hold, and two a Sell.
The players
Ben Reitzes
An analyst at Melius Research who provides market valuations and investment ratings for technology companies.
Lip-Bu Tan
The CEO of Intel who manages the company's manufacturing and product operations.
Intel
A technology company that manufactures semiconductors and operates a foundry business for other chip designers.
The details
The research firm values Intel by separating its core product business from its manufacturing arm, Intel Foundry. The long-term projection assumes significant capital investment, including the $20 billion raised for factory construction. Intel currently intends to scale production for its 14A process by 2028 and has noted a possible foundry separation could occur by 2030.
Timeline
August 2026: CEO Lip-Bu Tan purchased $10 million of company stock.
September 16, 2026: Ben Reitzes issued the new Buy rating and price target.
September 18, 2026: Research note coverage was published.
2028: Targeted production scale for the 14A process.
2030: Potential timeframe for a foundry business separation.
Money Landscape
Intel's recent capital raise and valuation shift reflect the broader surge in domestic semiconductor manufacturing investment. This development follows a period of intense industry focus on scaling advanced fabrication capacity within the United States.
Investors holding Intel shares should monitor upcoming earnings reports, as management has guided third-quarter earnings to approximately $0.38 per share. Discussing how individual stock concentration fits into your broader financial plan with a qualified financial professional is recommended.
The takeaway
Intel's future valuation depends on its success in scaling the 14A process over the next few years. Investors should keep an eye on upcoming quarterly earnings results to verify if the company is meeting its internal financial guidance.
Further reading
For more insight into how analysts evaluate major semiconductor companies, see our guide to Stock Picks.
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