Bear Stearns upped its estimates and target price on


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based on


(INTC) - Get Intel Corporation (INTC) Report

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midquarter update.

Dell has increased its sales faster than Intel from the second quarter to the third quarter in eight of the past 10 years, according to analyst Andrew J. Neff. Neff upped his estimate for Dell to 10% sequential revenue growth from 7.5%, noting that it is still slightly below Intel's expectation of 11.5% to 14.4% growth.

Neff also raised his year-end 2003 target price on Dell to $37.50 from $36 and maintained his outperform rating. The analyst's year-end 2004 price target is $45.

In addition, the analyst upped his third-quarter EPS estimates on Dell to 27 cents from 26 cents. For fiscal year 2004, estimates go to $1.03 a share from $1 a share, and for 2005, to $1.25 a share from $1.20 a share. Neff also established a 2006 EPS estimate of $1.50.

Shares of Dell closed at $34.35 Thursday on the


, while shares of Intel were gaining 3 cents, or 1%, to $28.90 in the Instinet premarket trading session.