Intel price target raised to $50 from $43 at Benchmark

Benchmark raised the firm’s price target on Intel (INTC) to $50 from $43 and keeps a Buy rating on the shares. Intel’s “strong September performance” is its fourth consecutive quarter of upside to guidance and return to profitability after six consecutive quarters of GAAP losses, the analyst tells investors. Customer demand is outstripping supply, driven largely by the growth of AI infrastructure spending and the adoption of AI PCs, while the industry is also seeing a better than expected transition to Windows 11, the analyst noted.