Lazard Capital Markets upgraded Intel from "neutral" to "buy" on Monday, citing the potential for wider profit margins, the impact of ultrabooks, the company's manufacturing strength and its dividend yield.
"We think demand will begin to improve next quarter as more Ultrabooks hit the market in 2H13," wrote Lazard Capital Markets analyst Daniel Amir.
Intel shares rose 0.9% to $21.35 in trading on Monday.
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