Intel (NASDAQ: INTC) is up 33% this week amid a wave of Wall Street endorsements and high-profile collaborations, including a multi-year partnership with Alphabet (NASDAQ: GOOGL) to develop AI and cloud infrastructure.
On April 9, Cantor Fitzgerald analyst C.J. Muse raised the firm’s price target on Intel from $45 to $60, keeping a “Neutral” rating ahead of the upcoming quarterly results.
Muse argued that memory is going to be among the first order beneficiaries of the new risk-on market environment, followed closely by compute.
A couple of days prior, Wells Fargo’s Aaron Rakers upped the bank’s INTC price target from $45 to $55, citing improved execution in the firm’s data center and AI segment.
In his research note, the analyst added that Intel is gaining a bigger share of the server CPU market as enterprise demand pivots toward hybrid AI compute.
Wall Street is still mixed on Intel
Although Intel shares are on a run, Wall Street is still mixed on the company’s long-term outlook.
Besides Muse and Rakers, only KeyBanc’s John Vinh has increased his Intel price target since late January, pushing it up from $65 to $70 on April 6, with an “Overweight” rating. Like Rakers, the analyst argued that the tech company’s server CPU demand remains exceptional.
On the same day, Mizuho Securities’ Vijay Rakesh doubled down on his “Hold” rating and INTC share price target of $48, while D. A. Davidson reiterated a “Hold” rating and price forecast of $45 on April 2.
Likewise, Northland called Intel a “Buy” with a $54 prediction, while UBS dubbed it a “Hold,” with a price target of $51.
Is Intel stock a buy?
With six “Buy,” twenty-four “Hold,” and four “Sell” recommendations, Wall Street’s consensus on INTC sits at “Hold,” according to TipRanks statistics.
Intel stock price prediction. Source: TipRanks
As for the price targets, the average twelve-month target stands at $48.83, implying a 20.88% decline.
Estimates vary widely, with a high target of $70 suggesting modest upside and a low of $30 indicating significant downside risk.
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