Citrini analyst: Intel's $20 billion issuance receives management subscription and institutional excess demand

Citrini analyst Jukan cited a research report from Guosen Securities, stating that Intel's $20 billion stock issuance was subscribed by management and exceeded institutional demand. CEO Chen Liwu and his family subscribed for $12 million at a price of $95, and the issuance scale expanded from $15 billion to $20 billion, with institutional demand exceeding $100 billion. Guosen Securities maintains Intel's buy rating and target price of $136, raises EPS expectations for 2026 and 2027, and expects backend business revenue to reach $1.1 billion and $7 billion in 2027 and 2028, respectively. The prospects for OEM and EMIB businesses are promising.