Intel (INTC) stock has received new upgrades for its forecast by Wall Street, as its latest earnings report looms on April 23. Shares rose on Tuesday after its stock got two separate analyst upgrades. Intel received upgrades from BNP Paribas (to Neutral, $60 target) and HSBC (to Buy, $95 target), sparking the pre-earnings rally.
Shares of Intel are up 86% year-to-date, one of the best performers on the US market. Strong demand for server CPUs from AI hyperscalers is a key catalyst, which has driven the latest INTC stock forecast upgrades. BNP Paribas analyst David O’Connor upgraded Intel stock, suggesting the rise of AI agents is adding to an already enormous appetite for Intel’s CPU chips. “Agentic AI is driving very strong demand for server CPUs with hyperscalers scrambling to secure supply,” O’Connor said in a research note.
HSBC also upgraded Intel from Hold to Buy, raising the company’s price target from $50 to $95. HSBC believes the server CPU business is the key near-term catalyst to drive earnings upside, and that it isn’t priced in. “We expect the server CPU shortage to extend into 2027, which should drive server CPU shipments growth of 20% y-o-y in the 2027 estimate,” said analyst Frank Lee in a note to investors.
Also Read: Grayscale Updates Hyperliquid ETF Filing With SEC
Intel (INTC) was placed under new leadership last year and is still in a transitional phase. Intel’s foundry business is still the most positive thing about the company. Furthermore, its investments in new AI-focused firms show promise and could help fuel revenue and gains for Intel. Intel’s collaboration with CrowdStrike is pivotal for integrating AI security into its PC platforms, emphasizing the importance of AI workload protection.
Intel is set to report Q1 2026 earnings on April 23, with expectations of $12.38 billion in sales and a penny per share in earnings per share. Analysts project a strong performance based on recent trends and how well Intel has outperformed Nvidia and other rivals in 2026.
Source: Watcher Guru
