Shares of Intel were up more than 2% Tuesday afternoon, extending Friday gains that were powered in part by deal-related rumors.

A Bernstein analyst recommends avoiding Intel’s stock as takeover rumors have the potential to drive a rally, though “it doesn’t feel like a long either.”

Intel's takeover rumors, particularly involving Elon Musk, have altered its risk/reward profile. Click here to read an analysis of INTC stock now.

Intel's ( INTC, Financial) stock increased by 2% on Tuesday morning after UBS analysts kept their " Neutral " rating and set its price target at $23 for the company. Their forecast matches what most other analysts think, ranging from $19 to $31 per share, and they still mostly rate the stock as a "Hold".

A tech publication writes of the “near certainty” that a company is interested in buying Intel. But it’s not clear which one might fit the bill.

Intel’s stock price climbed as much as 9.2 percent Friday morning after a report said a company is looking to acquire the semiconductor giant whole.