Intel price target raised to $60 from $45 at Jefferies

Jefferies analyst Blayne Curtis raised the firm’s price target on Intel (INTC) to $60 from $45 and keeps a Hold rating on the shares. The firm upped the company’s estimates to reflect “healthier” server central processing unit demand and favorable pricing conditions. Jefferies continues to view AMD (AMD) as the share gainer in the server CPU space but says Intel will also benefit from a stronger backdrop. AI stocks have started to rally, and there is “plenty of room to run with heavily discounted valuations and earnings upside for several names,” the analyst tells investors in a research note.