Intel’s stock received two analyst upgrades ahead of its April 23 earnings report, driving shares higher. BNP Paribas raised its rating to Neutral with a $60 target, while HSBC upgraded to Buy with a $95 target. Analysts cited strong demand for server CPUs from AI hyperscalers as a key catalyst, with HSBC projecting a supply shortage extending into 2027. Intel shares are up 86% year-to-date, among the best performers in the US market.
Intel (INTC) stock rose on Tuesday following two separate analyst upgrades. BNP Paribas and HSBC issued the upgrades, sparking a pre-earnings rally.
Shares of Intel have increased 86% year-to-date, making it one of the top performers. Strong demand for server CPUs from AI hyperscalers is identified as a primary catalyst.
BNP Paribas analyst David O’Connor upgraded Intel stock. “Agentic AI is driving very strong demand for server CPUs with hyperscalers scrambling to secure supply,” O’Connor stated in a research note.
HSBC also upgraded Intel from Hold to Buy, raising its price target from $50 to $95. The bank believes the server CPU business is a key near-term catalyst not yet 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 HSBC analyst Frank Lee. The firm sees this driving earnings upside.
Intel was placed under new leadership last year and remains in a transitional phase. The company’s foundry business is viewed as its most positive aspect.
Its investments in new AI-focused firms show promise for fueling revenue. The company’s collaboration with CrowdStrike is pivotal for integrating AI security into its PC platforms.
Intel is set to report Q1 2026 earnings on April 23. Analysts expect $12.38 billion in sales and earnings of one cent per share.
