Intel stock surged 10.3% on September 8, 2026, closing at $105.48 after analyst Northland Securities upgraded the chipmaker to Outperform from Market Perform, citing material progress in its turnaround and the potential for continued server CPU price increases.

Northland analyst Gus Richard set a $120 price target on the upgrade, reflecting confidence in Intel’s ability to capitalize on tight server processor supplies driven by artificial intelligence infrastructure demand. Richard specifically highlighted Intel’s partnership with Tesla on the Terafab semiconductor project, saying it could “materially benefit” the company’s foundry operations, which manufacture chips for external customers.

The upgrade comes as Intel…