Bank of America analyst Vivek Arya maintained a Buy rating on Intel but lowered his price target to $145 from $160. This adjustment accounts for the estimated 4% to 5% earnings-per-share dilution resulting from Intel's recent $20 billion stock sale and generally lower valuation multiples across AI-compute stocks. Arya views the capital raise as a net positive, suggesting it indicates management's increased confidence in Intel's foundry ambitions.