Intel price target raised by $10 at Benchmark, here’s why

Benchmark analyst Cody Acree raised the firm’s price target on Intel to $52 from $42 and keeps a Buy rating on the shares after having hosted a fireside chat conference call with Intel’s corporate vice president, of Corporate Planning and Investor Relations, John Pitzer. The firm came away from the call “increasingly encouraged” by the progress it believes Intel’s leadership has made on many design, product, and manufacturing fronts, and accordingly is increasing its price target, driven primarily by increasing confidence on Intel’s ability to compete effectively from both a design and manufacturing standpoint, at the desktop level and within the data center as well as the newer AI market.