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Intel Upgraded to “Buy” at Bank of America/Merrill Lynch; Margins Expanding (INTC)

Computer processor maker Intel Corporation ( INTC ) on Thursday caught a big upgrade from analysts at Bank of America/Merrill Lynch.

The firm said it boosted its rating on INTC to "Buy" with a $27 price target, suggesting a 23% upside to the stock's Wednesday closing price of $21.94.

Bank of America/Merrill Lynch also raised its earnings estimates for the company, citing indications of rising margins in its product lines.

Intel shares fell 39 cents, or -1.8%, in premarket trading Thursday.

The Bottom Line

Shares of Intel ( INTC ) have a 3.83% dividend yield, based on last night's closing stock price of $21.94. The stock has technical support in the $19 price area. If the shares can firm up, we see overhead resistance around the $23-$24 price levels.

Intel Corporation ( INTC ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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