As The Fly reports this morning, investment bank Citigroup trimmed its Intel price target from $22 to $21 per share, at the same time as HSBC upgraded the stock from reduce to hold.

Shares of Intel were up more than 2% Tuesday afternoon, extending Friday gains that were powered in part by deal-related rumors.

A Bernstein analyst recommends avoiding Intel’s stock as takeover rumors have the potential to drive a rally, though “it doesn’t feel like a long either.”

Shares of Intel (NASDAQ: INTC) were a massive disappointment in 2024. Multiple missteps culminated with the surprise retirement of CEO Pat Gelsinger late last year, and the company is now led by interim co-CEOs without a clear strategy.

Shares of Intel (INTC) have trailed the broader markets by a significant margin in recent years. In fact, Intel stock touched an all-time high during the dot-com boom and has burnt investor wealth for over two decades.

A tech publication writes of the “near certainty” that a company is interested in buying Intel. But it’s not clear which one might fit the bill.

Intel faced fierce competition and strategic shifts last year. Is the company poised for a comeback in the near future?