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Intel (INTC) has been fighting its way back into investors’ favor after a year of questions around foundry execution and uneven visibility in its core businesses, yet in 2026, the stock keeps hitting a 4-year peak as optimism around data center demand builds with the help of government support.
That bullish turn got louder this week when HSBC bumped Intel from “Reduce” to “Hold” and lifted its price target to $50 from $26. Seaport Research upgraded to “Buy” with a $65 target, and Susquehanna nudged its target to $45, all ahead of Intel’s Jan. 22 quarter. Analysts cite a sharper-than-expected rebound in server CPU demand driven by “agentic” AI. HSBC sees FY26 server shipments up 15% to 20% vs. the Street’s 4% to 6% and improving foundry engagement.
