Multiple financial institutions have raised their price targets for Intel after the company released its earnings report. Among them, JPMorgan increased its target for Intel from $35 to $45, TD Cowen raised its target price from $60 to $75, Jefferies lifted its target from $60 to $80, Bernstein boosted its target price from $60 to $65, HSBC raised its target price from $95 to $100, and Morgan Stanley increased its target price from $56 to $73.
On Thursday, Intel projected second-quarter revenue that would exceed Wall Street expectations, highlighting strong demand for its server processors used in artificial intelligence within data centers. The company expects second-quarter revenue to be in the range of $13.8 billion to $14.8 billion, compared to the expected $13.07 billion. Intel also provided adjusted earnings per share guidance of 20 cents for the second quarter, significantly surpassing the expected 9 cents per share.
