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

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.

HSBC upgraded Intel (INTC) to Hold from Reduce with a $20 price target The stock is now fairly priced, as recent uncertainties relating to execution of the “IDM 2.0” strategy as well as top management attrition are reflected in the shares,