Susquehanna upgraded Intel to Neutral from Negative with a price target of $26, up from $23. In April 2021, the firm called for the top of the semiconductor cycle, but now it is calling for the bottom in this cycle, at least for consumer, PC and handset-related names. The firm, when it had downgraded Intel last year, listed eight primary concerns, but now it says three of those concerns have lessened or abated – AMD (AMD) is no longer gaining PC share, the company has shown better roadmap execution and the Work from Home PC hangover and inventory correction has "run its course," the analyst said.
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