HSBC Upgrades Intel (INTC) to Hold

HSBC analyst Frank Lee upgraded Intel (NASDAQ: INTC) from Reduce to Hold with a price target of $50.00 (from $26.00).

The analyst comments: "We had been cautious on Intel mainly given overall uncertainty on customer pipeline and execution headwinds in their foundry business while the core business was also lacking visibility on growth drivers. However, we now turn more positive as we expect the traditional servers (DCAI) to get back on a growth trajectory. We expect there is an overwhelmingly increasing demand for server CPUs driven by rising agentic AI. We expect FY26e server shipments to grow 15%-20% y-o-y (vs street estimates of 4-6%). While the stock has moved up 19% YTD (vs S&P 500 up 1%), we believe there is further DCAI upside still not fully priced in. Hence, we upgrade Intel from Reduce to Hold."

For an analyst ratings summary and ratings history on Intel click here. For more ratings news on Intel click here.

Shares of Intel closed at $46.96 yesterday.

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