Intel Stock (INTC) Gets Massive 146% Target Hike as Evercore Upgrades Stock to Buy – Here’s Why

Intel’s (INTC) comeback story just got a big boost. After the stock’s explosive surge yesterday, part of the broader 17‑session semiconductor win streak, Evercore ISI analyst Mark Lipacis upgraded Intel stock’s rating to Buy from Hold, lifting his price target to $111 (34.5% upside), up from just $45, a staggering 146% increase. This marks one of the most aggressive calls on Wall Street and signals a shift in how analysts view Intel’s role in the AI era.

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The upgrade also comes on the heels of Intel’s 2,800% earnings surprise, which has forced analysts to reassess the company’s trajectory.

It is worth noting that the analyst ranks 17th out of more than 12,206 analysts tracked by TipRanks. He has an overall success rate of 73%, with an average return per rating of 39% over a one-year timeframe.

Here’s Why Mark Lipacis Upgraded Intel Stock to $111

For years, investors overlooked Intel as it fell behind TSMC (TSM) in manufacturing, lost CPU share to AMD (AMD) and ARM-based (ARM) chips, struggled with execution, took on debt, and watched GPUs dominate AI workloads.

Lipacis acknowledged all of that but argued the narrative has now changed. He calls it a “CPU Renaissance Play” and outlines three catalysts he believes are resetting Intel’s trajectory.

• “CPU Renaissance” Is Real: Lipacis said the fastest-growing AI workloads now need far more CPU power. Further, he believes the industry’s usual 1:8 CPU‑to‑GPU ratio could flip to 8:1, a shift that would make Intel far more important in AI infrastructure.
• Execution Is Improving: He credited Intel’s CEO with fixing the balance sheet and putting the company back on a competitive path. After years of missteps, the analyst sees a clearer strategy, better execution, and early signs of market share stabilization. This includes Panther Lake Success, Intel’s Core Ultra Series 3 launch on the advanced 18A node, which has become a proof point that the company’s manufacturing roadmap is finally back on track.
• Geopolitics Are Helping Intel: Intel is now the only U.S.‑based leading‑edge chipmaker, a position that has taken on new strategic importance. Lipacis pointed to Intel’s growing ties with the U.S. government, Nvidia (NVDA), and Tesla (TSLA). Also, he expects more partnerships as the U.S. pushes for domestic chip capacity. This aligns with Intel’s ongoing Foundry Turnaround, where CFO David Zinsner recently cited a $2.4 billion improvement in operating losses, signaling that the foundry business is finally moving in the right direction.

Even after a 100% rally this year, Lipacis said Intel still has room to run. His new $111 price target, one of the highest on Wall Street, reflects his view that Intel is entering a multi‑year recovery driven by AI demand, better execution, and supportive geopolitical trends.

Is INTC Stock a Strong Buy?

Turning to Wall Street, analysts have a Hold consensus rating on Intel stock based on 10 Buys, 21 Holds, and three Sells assigned in the past three months. Further, the average INTC stock price target of $76.00 per share implies 7.92% downside risk.