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Why Shares of Intel Are Surging Today

TheMotleyFool

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Why Shares of Intel Are Surging TodayPhoto, wide shot, wide-angle lens, Networking equipment supplier, sunset photo at golden hour, photo by Marc Adamus: https://img.midjourneyapi.xyz/temp/66e3509e-f4c6-4a7b-8e88-53fcc02cf17f.png

Shares of Intel (NASDAQ: INTC) jumped on Thursday after a formerly bearish analyst upgraded the stock. Bernstein raised its rating from "underperform" to "market perform," attaching a $50 price target. Intel stock was up about 5.1% at 11 a.m. EDT.

Bernstein sees Intel as able to weather the storm created by the novel coronavirus pandemic. Bernstein analyst Stacy Rasgon believes Intel's strong balance sheet and cheap valuation will allow the stock to hold up better than its semiconductor peers.

Image source: Intel.

Source Fool.com

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