Shares of Intel Corp (NASDAQ:INTC) rallied in early trading on Friday, after the company on Thursday reported upbeat first-quarter results.

Here are the key analyst insights:

BofA Securities analyst Vivek Arya maintained an Underperform rating, while raising the price target from $48 to $56.

JPMorgan analyst Harlan Sur reaffirmed an Underweight rating, while lifting the price target from $35 to $45.

Rosenblatt Securities analyst Kevin Cassidy reiterated a Sell rating, while raising the price target from $30 to $50.

Needham analyst Quinn Bolton maintained a Hold rating on the stock.

Check out other analyst stock ratings.

BofA Securities: Intel reported strong quarter results and announced a healthy outlook, due to "accelerating demand and pricing power in server CPU driving agentic AI workloads," Arya said in a note. He added, however, that Intel's gross margins remained "subpar," with the company continuing to burn cash.

Despite the meaningful earnings beat, the analyst maintained an Underperform rating, citing:

Intel's stock already pricing in the company's recovery

Management projecting sales CAGR (compounded annual growth rate) of 10%-15% for 2025-2028, well below peers at 30%-40%

Intel's foundry "still needs to prove for external customers"

JPMorgan: Intel's first-quarter ...