As Intel Corp. (NASDAQ: INTC) signaled uptrend continuation in June, Frank Lee, a Wall Street analyst at HSBC Holdings plc (NYSE: HSBC), reiterated bullish sentiment for the next 12 months.
Lee maintained a Buy rating on Intel stock price in a note to clients Thursday, July 2, analyzed by Finbold on July 3. The Wall Street analyst raised his 12-month target for the Intel share price from $100 to $200, representing a 100% increase.
According to HSBC’s note, the sharp increase in Intel stock price target is mainly due to the firm now including Intel Foundry in its valuation for the first time. The analyst cited growing external customer engagement and improving foundry capacity as the main reasons.
Lee also raised his server Intel CPU shipment growth forecasts, lifting the 2026 estimate to 25% year-over-year from 20%, and the 2027 estimate to 30% year-over-year from 20%. The analyst highlighted that his 2027 DCAI revenue projection of $33 billion is roughly 20% above the Wall Street consensus.
He further noted that Intel’s 18A process technology is ahead of internal projections, strengthening confidence in the company’s ability to execute its roadmap. Lee emphasized that Intel is well positioned to deliver upside in both 2026 and 2027, driven by internal foundry capacity reallocation and accelerating customer commitments expected to begin in the second half of 2026.
Intel stock price forecast and performance
Following the notable increase in Lee’s 12-month Intel share price forecast, the average target for 38 Wall Street analysts was at $101.09 at press time, according to data from TipTanks.
Wall Street analysts may be cautious about Intel stock, potentially due to accelerating growth among its competitors. Some of the top Intel competitors include Advanced Micro Devices, Inc. (NASDAQ: AMD) and NVIDIA Corp. (NASDAQ: NVDA).
Year-to-date (YTD), the Intel share price has surged over 205%, trading at about $120.35 at the time of publication. As such, Lee believes INTC stock could rally by more than 66%, while the average Wall Street analyst target suggests a potential 16% drop.
