"Good results," Citi analyst Christopher Danely said in a Friday note, "but structural issues remain."
Citi reiterated a neutral rating and a $34 price target.
Deutsche Bank, which described Intel's numbers as "more than marginal," maintained its Hold rating but increased its price target from $32 to $38, citing "abated" inventory challenges.
Analysts increased Intel's price target from $30 to $35 and lauded the company's "better-than-expected results.
He also said cloud companies were focusing more on securing graphics processors for AI instead of Intel's central processors.
Persons:
Christopher Danely, Danely, Ross Seymore, Pat Gelsinger, Leswing, Michael Bloom
Organizations:
Intel, Wall Street, Citi, Nvidia, AMD, Deutsche Bank, JPMorgan