NEW YORK, Jan 20, 2026, 11:36 (EST)
Intel shares climbed roughly 5.7% to $49.63 in late-morning trading Tuesday after Seaport Research Partners upgraded the chipmaker to Buy, setting a $65 price target. HSBC followed by raising its rating to Hold. Seaport analyst Jay Goldberg pointed to “strong signals” from Intel’s PC lineup, saying the company is “back on the right path,” though he warned it’s still “not out of the woods.” 1
Just two days before Intel’s Q4 and full-year 2025 earnings drop on Jan. 22 after market close, the company is gearing up for its 2 p.m. PT earnings call. The stock has already priced in some moves, and investors want to see Intel deliver on those expectations. 2
HSBC’s Frank Lee lifted his price target for Intel sharply, from $26 to $50, on expectations of stronger demand for traditional server chips fueled by “agentic AI”—a type of software that doesn’t just respond but actively plans and executes tasks. He forecasts server CPU shipments rising 15% to 20% in 2026, well above Wall Street’s more modest 4% to 6% estimates. Lee also bumped his 2026 revenue forecast for Intel’s Data Center and AI unit (DCAI) to $19.8 billion. 3
HSBC highlighted that “further DCAI upside still not fully priced in,” despite Intel’s strong gains this year, according to an Investing.com report. Intel’s server unit remains under pressure to maintain market share while working to spark new growth.
Seaport’s upgrade zeroed in on PCs and manufacturing. The firm flagged a rebound in Intel’s core products alongside early wins in manufacturing as key positives for Intel Foundry, the company’s contract chipmaking division. Intel’s forthcoming “Panther Lake” PC processors also got a nod as a significant catalyst. 4
Some terms are pure industry shorthand. A CPU, or central processing unit, tackles most computing jobs in PCs and many servers. “18A” refers to Intel’s next-gen manufacturing process node, while “advanced packaging” involves merging multiple chips into one module—a tactic to boost performance when making a single, giant chip gets too difficult or pricey.
HSBC stuck with its Hold rating, pointing out that any gains hinge more on execution than just demand forecasts. Their note flagged ongoing doubts about Intel’s foundry customer pipeline, even as server momentum picked up thanks to fresh AI workloads. 5
Wall Street remains split. Data from StockAnalysis.com shows Intel’s analyst consensus stuck at Hold, with an average price target of $37.52, even after Tuesday’s upgrades. This highlights that many experts still see the rally as detached from the company’s fundamentals. 6
Intel’s report due Jan. 22 will be a key moment for recent optimism. Investors are eager to learn if server demand is gaining traction, whether 18A is set for volume production, and if Intel Foundry can attract outside clients.
