Intel Corporation (NASDAQ:INTC) is one of the Buzzing AI Stocks Analysts are Watching. On January 20, Seaport Global Securities analyst Jay Goldberg upgraded the stock to “Buy” from Neutral with a price target of $65. The firm is cautiously optimistic on the stock, noting that INTC is back on track, but a full turnaround at Intel Foundry (IFS) will take time.

According to Seaport, there are strong signals for Intel’s PC products and a gradually improving outlook for Intel Foundry Services (IFS). Analysts led by Goldberg believe the new Panther Lakes products will drive an improvement for Intel products.

Feedback from OEMs and ODMs at and following the CES event has been very positive, implying Intel could regain market share this year, particularly in consumer products.

Discussing Panther Lake, the firm noted that it is highly significant, as it is the first commercial product built on Intel’s 18A manufacturing process. This marks a return to Moore’s Law path of process improvement.

While IFS still faces execution risk and longer-term success is dependent on the 14A process, the firm anticipates near-term traction in advanced packaging. This is helped by capacity constraints at TSMC.

In the near term, we think the bulk of external IFS customers will sign up for Intel advanced packaging rather than 18AP. TSMC’s advanced CoWoS advanced packaging is highly constrained, leaving room for Intel to get its start serving external customers. For now, that is enough to keep them in the fight. We are establishing a price target of $65, based on a DCF analysis with a 12% discount rate and a 5% growth rate.

Intel Corporation (NASDAQ:INTC) designs, manufactures, and sells advanced semiconductors, computer products, and technologies, delivering data storage, computer, networking, and communications platforms.

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