Intel Corporation (NASDAQ: $INTC) Stock Rises 4.16% Pre-Market After JPMorgan Upgrades Rating to Neutral.
JPMorgan upgraded Intel from Underweight to Neutral, ending a negative rating it had maintained since November 2022. The upgrade sent Intel shares climbing 4.16% to $93.59 in pre-market trading Monday. Analyst Harlan Sur said the stock’s 36% decline from its June peak had reduced potential downside, while improving execution under CEO Lip-Bu Tan had increased his confidence in the company’s turnaround. Despite the upgrade, JPMorgan kept its $85 price target, below the current share price.
The bank pointed to progress in chip manufacturing, production yields, advanced packaging, and demand for CPUs used in AI systems. However, it expects Intel to keep losing processor market share for several more quarters and said its external foundry business still needs significant growth. Intel is scheduled to report third-quarter 2026 results after market close on October 29.
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JPMorgan upgraded Intel from Underweight to Neutral, ending a negative rating it had maintained since November 2022. The upgrade sent Intel shares climbing 4.16% to $93.59 in pre-market trading Monday. Analyst Harlan Sur said the stock’s 36% decline from its June peak had reduced potential downside, while improving execution under CEO Lip-Bu Tan had increased his confidence in the company’s turnaround. Despite the upgrade, JPMorgan kept its $85 price target, below the current share price.
The bank pointed to progress in chip manufacturing, production yields, advanced packaging, and demand for CPUs used in AI systems. However, it expects Intel to keep losing processor market share for several more quarters and said its external foundry business still needs significant growth. Intel is scheduled to report third-quarter 2026 results after market close on October 29.
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