On June 11, Intel (INTC) received a Wall Street revamp that could flip the script on its stock performance, according to a research note shared with me at TheStreet.

Investors had been bracing for more skepticism around Intel’s turnaround.

The company still faces fierce pressure from Nvidia, AMD, and Arm-based chip designs, while its foundry strategy remains one of the most expensive bets in semiconductors.

But Bank of America flipped the script.

The firm double-upgraded Intel to Buy from Underperform and raised its price target to $135 from $96 on the back of healthier visibility in server CPUs and external foundry demand.

Additionally, the bank now sees Intel’s 2030 earnings power far above its prior view, helped…