HSBC doubled its Intel price target to $200, citing stronger server CPU outlook and foundry business valuation.
HSBC raised its price target for Intel (NASDAQ:INTC) to $200 from $100, the highest on Wall Street, while maintaining a Buy rating. The upgrade reflects a bullish outlook on Intel’s server CPU growth and foundry business, with 2026-27 earnings driven by AI and data center demand.
The firm increased its 2026 shipment growth estimate to 25% from 20% and its 2027 estimate to 30% from 20%. HSBC’s data center and AI revenue forecasts of $24.1 billion for 2026 and $33.0 billion for 2027 exceed consensus. Intel’s foundry business, seen as a credible TSMC alternative, has secured customers like Apple and Terafab.
Intel’s stock has risen 5.14% over the past month despite a broader semiconductor sector sell-off, with analysts projecting 45% EPS growth.