Zacks Investment Research upgraded shares of Intel Corporation (INTC) from NEUTRAL to OUTPERFORM on July 09, 2014, with a target price of $37.00.
Intel is one of the leading producers of microprocessors in the world. The company's first-quarter earnings exceeded the Zacks Consensus Estimate by a penny. Forward guidance was in line with the consensus estimate. Though Intel's promise of success in the mobile segment is encouraging, this is likely to be mitigated by conservative spending by individuals and corporations, competition from ARM-based devices, and the impact of new product ramp-up costs. The silver lining is its strength in the server and software segments, which along with the stabilization in the PC market and its process lead leads us to upgrade our rating to Outperform.
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