Intel (NASDAQ:INTC) stock has climbed sharply, and Wall Street is taking notice. Susquehanna raised its price target on INTC stock to $65 from $45, keeping a Neutral rating on the shares. The move signals growing confidence in Intel’s near-term execution, even if the firm isn’t ready to go fully bullish.
The timing matters. Intel reports Q1 results on April 23, and Susquehanna’s preview suggests the quarter could land in line to slightly better than expected. That’s a meaningful shift in tone for a stock that spent most of last year fighting for credibility.
| Ticker | Company | Firm | Action | Old Rating | New Rating | Old Target | New Target |
|---|---|---|---|---|---|---|---|
| INTC | Intel | Susquehanna | Price Target Raised | Neutral | Neutral | $45 | $65 |
The Analyst’s Case
Susquehanna expects stronger Server CPU demand to drive modest upside in Q1, partially offset by weaker PC ODM builds. The firm sees Intel’s data center business as the near-term bright spot, while the PC market remains a headwind.
That read aligns with Intel’s own guidance. In Q4 2025, Intel’s Data Center and AI segment posted $4.74 billion in revenue, up 9% year over year, while the Client Computing Group declined 7% to $8.19 billion. Susquehanna’s thesis tracks that divergence closely.
Company Snapshot
Intel guided Q1 2026 revenue of $11.7 billion to $12.7 billion, with non-GAAP EPS of $0 and supply constraints expected to tighten before improving in Q2. The company ended 2025 with $14.27 billion in cash and equivalents, up 73% year over year.
CEO Lip-Bu Tan has been methodical about rebuilding Intel’s foundation. In his Q4 commentary, he noted:
Our conviction in the essential role of CPUs in the AI era continues to grow… The introduction of our first products on Intel 18A — the most advanced process technology developed and manufactured in the United States — marks an important milestone.
Intel’s headcount has been reduced to 85,100 from 108,900 a year ago, reflecting a leaner cost structure.
Why the Move Matters Now
INTC stock has risen 72% year to date, rallying from $36.90 at year-end to $63 and change today. Susquehanna’s new $65 target essentially reflects where the stock already trades, validating current levels rather than projecting dramatic additional upside. That contrasts with the broader analyst consensus target of $48.96, where 33 analysts rate INTC a Hold versus just 9 combined Buy or Strong Buy ratings.
Investors considering Intel’s valuation should weigh the forward P/E ratio of 122x against a company still working through Intel Foundry operating losses of $2.51 billion in Q4 alone. For context on how Wall Street prices other tech turnarounds, Microsoft’s gap between price and analyst targets offers useful comparison on valuation discipline.
What It Means for Your Portfolio
Susquehanna’s price target raise acknowledges Intel’s recovery is real. The Neutral rating reflects fair value near current levels. The Neutral rating signals fair value near current levels, not a bargain. For retirement-focused investors, that’s a signal to watch execution carefully rather than add aggressively at these prices.
Intel’s Q1 earnings report on April 23 will be the next real test. If Server CPU demand delivers the modest upside Susquehanna anticipates and supply constraints begin easing as Intel has guided for Q2, the turnaround narrative gains another data point. The prediction markets currently assign a 70% probability that Intel beats Q1 earnings, so expectations are already elevated heading into the report.
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