Intel stock jumps on bullish analyst comments, foundry momentum

Intel Corporation stock climbed 7.9% in morning trading Thursday, driven by multiple analyst upgrades and continued positive sentiment around the company's manufacturing partnerships.

Tigress Financial raised its price target on Intel to $145 from $118 while maintaining a Buy rating. The firm pointed to an AI-driven turnaround, stronger demand for Xeon server processors, and improving operating leverage as reasons for the increased target.

Northland upgraded Intel to Outperform with a $120 price target. The firm cited clear progress in the company's turnaround and potential gains from the Terafab partnership, which has attracted interest from clients including SpaceX and Tesla.

Melius Research said Intel's foundry business could support a path to $165 per share.

Reports from Wednesday that SK Hynix is in exploratory talks to manufacture memory chips at Intel's Ohio facility, or through a joint venture involving major cloud providers, continued to support the stock. The potential production could include advanced HBM or DRAM chips.

Intel plans to implement a roughly 10% price increase for PC CPUs in early October. Traders viewed this as a sign of restored pricing power in the company's client computing segment.

Intel's High-NA EUV process is reportedly already in high-volume manufacturing. The company's 18A and Panther Lake process layers are matching or exceeding the performance of previous-generation tools, reducing execution risk around the foundry roadmap.

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