Bank of America Double-Upgrades Intel (INTC), Lifting Chip Sector Sentiment

Bank of America issued a double upgrade on Intel Corporation (NASDAQ: INTC) on Friday, June 12, 2026, shifting its rating up two notches in a single move, a rare and emphatic call on the chip maker. INTC closed up 6.51% at $124.57 on the session, as the broader chip sector also advanced on Iran peace deal momentum, according to Yahoo Finance.

What Changed

• Bank of America delivered a double upgrade on INTC, moving the rating up two levels in one action, per multiple reports from Yahoo Finance and CNBC.
• The upgrade was described by TheStreet as accompanied by a major reset to Intel's price target, though no specific numerical target figure was confirmed in the available source data.
• CNBC noted that Jim Cramer weighed in on the upgrade, advising investors on how to respond to the call.
• The chip sector broadly accelerated on Friday alongside the Intel-specific catalyst, per Yahoo Finance.

Investor Takeaway

A double upgrade from a major Wall Street bank is an uncommon event that signals a material shift in conviction, not just a routine target adjustment. With INTC gaining 6.51% on June 12 and the analyst consensus sitting at a majority Hold, the BofA call stands out as a meaningful divergence worth monitoring as the market continues to re-rate the stock.