Intel Corporation is trading 8.8% up at $116.47, primarily driven by a significant double-upgrade from Bank of America on Thursday.
- Bank of America upgraded INTC from Underperform to Buy and raised its price target to $135 from $96, citing growing confidence in the company's server CPU and external foundry business.
- The upgrade builds on positive momentum from last week's Computex 2026, where Intel announced a strategic AI infrastructure partnership with Foxconn and showcased its evolving AI strategy.