Seaport Global Securities analyst Jay Goldberg raised the price target on Intel (NASDAQ: INTC) to $125.00 (from $90.00) while maintaining a Buy rating.

The analyst comments: “Intel reported a strong quarter and guide, returning to >40% gross margins for the first time in two years. The company is ramping up supply to catch up with demand. Intel raised its capex estimate for the year (and implicitly for next year), something we believe they would not have done without real customer commitments. Most importantly, they confirmed that Intel 14A was moving forward, confirming the company now has the potential for the long term, again. We maintain our Buy rating and increase our PT to $125 (from $90).”