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Bank of America just threw cold water on Intel's (INTC) recent rally, downgrading the stock to “Underperform” with a $34 price target. That implies roughly 8% downside from current levels after INTC stock surged nearly 85% in 2025.
The analysts believe Intel has climbed too far, too fast. While the company's balance sheet has improved and its foundry business shows external partnership potential, BofA thinks the recent $80 billion jump in market cap more than reflects these positives.
