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.

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 the chipmaker are rising today alongside broader markets, leaving them up more than 8% in January and outpacing the S&P 500.

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

The news comes as Intel shakes off a leadership transition. Pat Gelsinger stepped down as CEO on Dec 1, 2024, and retired after the board indicated it was not happy about the pace and cost of his turnaround strategy. Currently, Michelle Johnston Holthaus (Michelle Johnston Holthaus) and David Zinsner are interim co-CEOs of the company.

Key Takeaways Intel shares added to recent gains Tuesday following a report last week that the company could be a takeover target. Rival chipmaker Broadcom is the most likely buyer, some analysts said,