Intel stock was gaining again on Wednesday ahead of the chip company's earnings report. Analysts are becoming gradually more enthusiastic about its prospects.
Intel shares were up 7.37% at $52.14. That was set to add to a 39.7% gain so far this year through to Tuesday's close.
The positivity comes ahead of the company's earnings, expected Thursday after the market closes.
Intel is expected to report adjusted earnings of eight cents a share on revenue of $13.42 billion for the fourth quarter of 2025, according to a FactSet poll of analysts' estimates. That would be down from earnings of 13 cents a share on revenue of $14.26 billion for the year-earlier period.
However, more important than the figures is likely to be any guidance from Intel about the early reaction to its newly launched Panther Lake processors.
Intel is hoping that impressive performance from the chips could validate its 18A manufacturing process, attracting external clients who would help to limit the billions of dollars worth of quarterly losses it is booking in its foundry, or chip-manufacturing unit.
As Barron's has written, several Wall Street analysts have turned more positive on Intel stock in recent weeks, after the company unveiled the new processors and comments from President Donald Trump praising CEO Lip-Bu Tan. The stock has received rating upgrades in recent days from HSBC, KeyBanc, and Seaport Research.
Susquehanna analyst Christopher Rolland tentatively joined the chorus, raising his price target on the stock to $45 from $40 in a research note Tuesday, while maintaining a Neutral rating. He said strong PC and server markets should help drive earnings.
However Rolland wasn't as upbeat on the company's chip-manufacturing operations as some other analysts who have predicted Apple could become a customer for Intel's 18A and 14A chip-manufacturing processes.
"For Foundry, recent reports have suggested increased interest from potential customers, though we are still awaiting a formal customer announcement. However, the company is more "confident" on Intel 14A as customer engagements have increased," Rolland wrote.