$Intel(INTC)$ Bank of America'

$Intel(INTC)$ Bank of America's view on Intel has turned increasingly positive.

Back in June, the firm made the unusual move of upgrading Intel from Underperform directly to Buy. That is a rare two-step upgrade, reflecting growing confidence in Intel's AI server CPUs, foundry strategy, and advanced packaging business.

That positive outlook was reinforced recently, as Bank of America reaffirmed its Buy rating and increased its 12-month price target to $160.

Analysts can change their opinions at any time, but it is notable when a major Wall Street research firm makes a rare double upgrade and then strengthens that stance by reaffirming its Buy rating and raising its price target following earnings.

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