{"id":62058,"date":"2026-05-18T07:38:25","date_gmt":"2026-05-18T11:38:25","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/citigroup-hikes-chip-targets-as-commerzbank-rejects-e39b-unicredit-bid\/62058\/"},"modified":"2026-05-18T07:38:25","modified_gmt":"2026-05-18T11:38:25","slug":"citigroup-hikes-chip-targets-as-commerzbank-rejects-e39b-unicredit-bid","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/citigroup-hikes-chip-targets-as-commerzbank-rejects-e39b-unicredit-bid\/62058\/","title":{"rendered":"Citigroup Hikes Chip Targets as Commerzbank Rejects \u20ac39B UniCredit Bid"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Citigroup significantly raised price targets for AMD and Intel, citing a projected $132 billion server CPU market by 2030.<\/strong><\/li>\n<li><strong>Advanced Micro Devices (<a href=\"\/stock\/AMD\">AMD<\/a>) saw its target hiked to $460 (from $358), while Intel (<a href=\"\/stock\/INTC\">INTC<\/a>) rose to $130 (from $95).<\/strong><\/li>\n<li><strong>Commerzbank (<a href=\"\/stock\/CBK\">CBK<\/a>) formally rejected a \u20ac39 billion takeover offer from UniCredit (<a href=\"\/stock\/UCG\">UCG<\/a>), claiming it undervalues the bank.<\/strong><\/li>\n<li><strong>Despite the rejection, Commerzbank remains open to dialogue if UniCredit presents a more attractive premium and a credible strategy.<\/strong><\/li>\n<li><strong>Analysts expect &quot;agentic CPUs&quot; to drive a 185% CAGR in the semiconductor sector, reaching 45% of the total market by 2030.<\/strong><\/li>\n<\/ul>\n<p>Citigroup (<a href=\"\/stock\/C\">C<\/a>) analysts issued a major bullish update for the semiconductor sector on Monday, significantly raising price targets for industry leaders. Advanced Micro Devices (<a href=\"\/stock\/AMD\">AMD<\/a>) saw its target hiked to <strong>$460 from $358<\/strong>, while Intel (<a href=\"\/stock\/INTC\">INTC<\/a>) received a boost to <strong>$130 from $95<\/strong>.<\/p>\n<p>The upgrades are underpinned by a new market model forecasting the server CPU total addressable market to reach <strong>$132 billion by 2030<\/strong>. Citigroup (<a href=\"\/stock\/C\">C<\/a>) specifically highlighted the rise of <em>agentic CPUs<\/em> as a primary growth engine, expected to represent <strong>45% of the total market<\/strong> by the end of the decade.<\/p>\n<p>By 2030, Citigroup (<a href=\"\/stock\/C\">C<\/a>) projects that Intel (<a href=\"\/stock\/INTC\">INTC<\/a>) will maintain a <strong>47% market share<\/strong> in this space, while Advanced Micro Devices (<a href=\"\/stock\/AMD\">AMD<\/a>) is expected to capture <strong>34%<\/strong>. Analysts also noted that AMD (<a href=\"\/stock\/AMD\">AMD<\/a>) has likely secured Anthropic as a major customer for its upcoming <strong>MI450 AI accelerator<\/strong>.<\/p>\n<p>In the European banking sector, Commerzbank (<a href=\"\/stock\/CBK\">CBK<\/a>) officially rejected a <strong>\u20ac39 billion ($45.37 billion)<\/strong> voluntary takeover offer from Italy&#39;s UniCredit (<a href=\"\/stock\/UCG\">UCG<\/a>). The German lender\u2019s board argued the proposal <em>fails to provide an adequate premium<\/em> and does not reflect the bank&#39;s fundamental value.<\/p>\n<p>Commerzbank (<a href=\"\/stock\/CBK\">CBK<\/a>) leadership warned that the deal could lead to significant revenue losses and overestimated synergies. They emphasized that the bank creates greater value through its standalone <strong>&quot;Momentum 2030&quot; strategy<\/strong>, which targets a net profit of <strong>\u20ac5.9 billion<\/strong> by 2030.<\/p>\n<p>Despite the formal rejection, Commerzbank (<a href=\"\/stock\/CBK\">CBK<\/a>) stated it <strong>remains open to dialogue<\/strong> with UniCredit (<a href=\"\/stock\/UCG\">UCG<\/a>) should a more attractive offer materialize. The current offer, structured as a share exchange, implied a value of <strong>\u20ac34.56 per share<\/strong>, which sits below Commerzbank\u2019s recent market price of <strong>\u20ac36.48<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Citigroup significantly raised price targets for AMD and Intel, citing a projected $132 billion server CPU market by 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