Northland Securities’ decision to upgrade Intel (INTC) to “Outperform” and set a $120 price target has added fresh momentum to the chipmaker’s comeback narrative. On Sept. 8, analyst Gus Richard lifted his rating from “Market Perform,” citing material progress in Intel’s business and the support from tight server-CPU supply.
The call came following renewed reports that Intel could raise processor prices by up to 10% in October. Together, those developments helped drive Intel shares nearly 15% higher over the past five trading days.
