Intel stock gains after BofA upgrade, foundry business in focus
Intel shares climbed at the start of the week, building on recent gains fueled by AI hopes and some shifts in market sentiment about the company’s comeback. Intel was last at $124.57, adding $7.58 or around 6.5%. U.S. stock-index futures were also higher Monday. Traders pointed to a U.S.-Iran agreement as pushing up risk appetite, with Nasdaq 100 futures rising 2.1% before the bell. Intel got bumped up two steps by Bank of America last week, going from Underperform all the way to Buy. The price target got raised to $135 from $96 as well. Price targets are where analysts think the stock could trade in the next year. Benzinga cited analyst Vivek Arya, who said he sees “higher confidence in INTC's opportunity to help address industry constraints in leading edge wafers/packaging, plus supply into a much larger agentic CPU TAM.” TAM stands for total addressable market—the potential for sales if the demand is there.