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Intel (INTC) Stock Climbs, Bernstein Upgrades

NEW YORK (TheStreet) -- Shares of Intel (INTC) are advancing 2.18% to $33.92 late Friday morning as Bernstein raised its rating on the stock to "market perform" from "underperform," the Fly reports.

The firm also raised its price target to $30 from $26 on shares of the Santa Clara, CA-based tech giant.

Bernstein said Intel's second quarter results and third quarter forecast are unlikely to miss consensus projections, due to the company's relatively positive view for the PC channel and baseband markets.