Intel price target raised to $38 from $32 at Deutsche Bank

Deutsche Bank analyst Ross Seymore raised the firm’s price target on Intel to $38 from $32 and keeps a Hold rating on the shares. The company delivered its “cleanest beat/raise post-pandemic” as cyclical headwinds are abating and IDM 2.0-driven tailwinds are accelerating, the analyst tells investors in a research note. The firm says the revenue upside was significant in Q2 and widespread across end markets.