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Intel Upgraded to Overweight by JPMorgan

Intel Corporation (NASDAQ:INTC) was upgraded to overweight from neutral by JPMorgan. The price was also raised to $29 a share from $20 a share. JPMorgan cited Intel’s recent focus on areas where it has a clear advantage to maximize profits as a reason for the upgrade. Moreover, JPMorgan believes that the Chipmaker is doing a better job of providing realistic guidance on earnings. The PC market according JPMorgan will stabilize in 2014 and provide a positive relief for Intel.