Intel price target raised to $25 from $20 at Baird

Baird raised the firm’s price target on Intel (INTC) to $25 from $20 and keeps a Neutral rating on the shares. The firm said gross margin expansion is expected to be muted notably in 2H25 due to the 18A ramp in support of Panther Lake, along with mix, with acceleration expected in 2026 driven by 18A volumes and insourcing.