Intel price target raised to $42 from $35 at Raymond James

Raymond James analyst Srini Pajjuri raised the firm’s price target on Intel to $42 from $35 and keeps an Outperform rating on the shares after the company reported a “solid quarter” driven by upside from both PC and Data Center segments. The technology roadmap “appears firmly on track,” and is corroborated by recent customer announcement for 18A, while management is targeting to announce another 18A customer for foundry this year, which “should further validate the company’s execution progress,” the analyst tells investors.