US Stock Market Move | Intel Corporation (INTC.US) rose more than 7% as Bank of America Merrill Lynch upgraded its rating to "buy".

On Thursday, Intel Corporation (INTC.US) rose by more than 7% to $115.23. On the news front, Bank of America Corp upgraded Intel Corporation's stock rating from "underperforming" directly to "buy", and raised the target price from $96 to $135. The core reason for this rating upgrade is the continued confidence of Bank of America in Intel Corporation's prospects in the server chip business and external manufacturing business. The analysis team stated that the valuation method based on the estimate for 2028 undervalued the company's longer-term potential in chip manufacturing and outsourcing business. The bank currently predicts that Intel Corporation's earnings per share will exceed $6 by 2030, a significant increase from the previous estimate of $3 to $4.