NEW YORK (TheStreet) -- Intel Corp (INTC) experienced a jump in aftermarket trading, rising 0.4% to $24.
The jump came after the company was upgraded to "overweight" from "equal weight" at Piper Jaffray. The firm also assigned the stock a $30 price target.
Must Read: Warren Buffett's 10 Favorite Growth Stocks
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Piper points to the stabilization of the PC market as a reason for the upgrade.
"Recent industry data points suggest that 1Q notebook shipments are tracking roughly in line with expectations while commentary on direct server trends have been positive. We expect the trend of improving rate of year-over-year declines to continue in 2014," analyst Ruben Roy said in the note.
Separately, TheStreet Ratings team rates INTEL CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate INTEL CORP (INTC) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."