As Intel Corp. (NASDAQ: INTC) stock rallied nearly 20% over the past 5 days through September 8, 2026, catalyzed by its strong pricing power amid its growing capacity in the artificial intelligence (AI) supply chain, Gus Richard, a Wall Street analyst at Northland Securities, upgraded semiconductor giant from ‘Market Perform’ to ‘Outperform’. 

Richard raised the firm’s 12-month rating and set a price target for Intel stock at $120. With INTC price hovering at $104.72 at the time of writing, this analyst signals a potential 14.59% upside.

He based his bullish thesis on the company’s major capital allocations, its long-term valuation targets, and structural capacity spending. Specifically, Northland Securities…