Intel (INTC) shares saw significant volatility after Goldman Sachs initiated coverage with a Neutral rating. The stock fell to a session low of $125.41. Institutional buying helped the price recover to a close near $133. Goldman Sachs established a price target of $150 for the stock.
The bank identified Intel as a primary beneficiary of the artificial intelligence boom. Analysts cited rising server demand and long-term potential in the foundry business as positive factors. However, the firm noted that the recent rally already reflects much of this optimistic outlook.
Goldman Sachs expressed a preference for competitors including AMD, Nvidia, and Broadcom. Analysts pointed to better revenue visibility and more attractive valuations for near-term growth in these rival companies. The neutral rating indicates a balanced risk-to-reward profile despite Intel's AI narrative.