Intel (NASDAQ:INTC) stock just got a bold signal from Bernstein, raising its price target to $60 from $36 while maintaining a Market Perform rating. That’s nearly a doubling of the firm’s target, signaling growing conviction that Intel’s turnaround is gaining real traction. The move comes as INTC stock has already surged 81% year-to-date, fueled by strategic partnerships and foundry momentum.
Intel has been on a historic multi-day winning streak, driven by optimism surrounding partnerships with Tesla (NASDAQ:TSLA | TSLA Price Prediction), Alphabet‘s (NASDAQ:GOOGL) Google, and xAI’s Terafab project. Bernstein isn’t alone in its revised outlook: Susquehanna previously raised its price target on Intel to $65 from $45, also keeping a Neutral rating.
| Ticker | Company | Firm | Action | Old Rating | New Rating | Old Target | New Target |
|---|---|---|---|---|---|---|---|
| INTC | Intel | Bernstein | Price Target Raised | Market Perform | Market Perform | $36 | $60 |
The Analyst’s Case
Bernstein raised its server assumptions and lifted gross margin estimates while lowering its NCI forecast given the Ireland fab repurchase. The firm also trimmed its PC assumptions, reflecting caution on consumer demand. Overall, Bernstein is below consensus on client computing but above consensus on data center, with higher gross margins and EPS above consensus despite revenue forecasts below consensus on weaker PC demand.
Bernstein is making a targeted bet that Intel’s data center and AI business will outperform while the foundry buildout matures, with caution on the consumer PC side. Bernstein’s aggressive target raise, even without upgrading the rating, signals the scale of opportunity the firm sees ahead.
Company Snapshot
Intel designs and manufactures semiconductors across three major segments: Client Computing Group (CCG), Data Center and AI (DCAI), and Intel Foundry. CEO Lip-Bu Tan has implemented an “IDM 2.0” strategy and successfully launched the Intel 18A process node, which the company describes as “the most advanced process technology developed and manufactured in the United States.”
Intel’s most recent quarter showed DCAI revenue of $4.74 billion, up 9% year-over-year, while full-year 2025 operating cash flow reached $9.7 billion, up 17% year-over-year. Headcount has been reduced to 85,100 from 108,900 year-over-year as restructuring continues.
Why the Move Matters Now
Intel’s stock has already blown past Bernstein’s new $60 target, as it’s trading at $66.78 today. The raise reflects catch-up to a stock that moved faster than expected. The broader analyst consensus target sits at just $48.96, meaning Bernstein’s revised view is ahead of the Street average.
The prediction markets reflect similar optimism, with a 74% probability on Polymarket that Intel will beat its upcoming quarterly earnings, resolving April 23. That crowd confidence, combined with Bernstein’s revised assumptions, suggests the turnaround narrative is becoming harder to dismiss.
What It Means for Your Portfolio
Intel’s foundry business remains a drag, posting an operating loss of $2.51 billion in Q4 2025 alone. The stock’s rapid rise means the easy money may already be off the table for cautious investors. If you’re holding INTC stock, Bernstein’s revised outlook offers fundamental support for staying patient through restructuring.
For those on the sidelines, the key question is whether Intel’s data center growth and 18A ramp can offset foundry losses and a softening PC market. Bernstein’s above-consensus EPS model suggests the math works. That’s worth watching as Q1 2026 earnings approach.
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