Intel price target raised to $38 from $35 at UBS

UBS analyst Timothy Arcuri raised the firm’s price target on Intel to $38 from $35 and keeps a Neutral rating on the shares. Intel reported “solid enough” guidance and commentary was measured but constructive, the analyst tells investors in a research note. The firm is not optimistic about its AI roadmap through 2025, but compute is highly elastic and AI should ultimately drive compute costs lower, the firm says.