HSBC upgraded Intel from Hold to Buy, raising its price target from $50 to $95. The bank expects strong server CPU momentum to begin in the second quarter. This growth driver is projected to outpace the company's foundry initiatives.
BNP Paribas also upgraded the stock ahead of Intel's April 23 earnings report. The HSBC price target is a significant outlier compared to the current analyst average of $52.
Intel shares rose during trading on April 21 following the news. Options activity indicates bullish sentiment as investors await the upcoming quarterly results.