Will These Price Target Increases Help Intel (INTC) Stock Today?

Story updated at 10 a.m.to reflect market activity.

NEW YORK (TheStreet) -- Jefferies and Pacific Crest both raised their price targets for Intel (INTC) Wednesday.

Shares of Intel gained 1.5% to $27.17 in morning trading.

Jefferies raised its price target for the chipmaker to $35 from $32 while reiterating a "buy" rating. The first also boosted its EPS estimates for Intel, saying both increases were driven by the company's ability to stay on the transistor cost curve, gain market share, and improve its gross margin.

Pacific Crest raised its price target for Intel to $32 from $31, reiterating its "outperform" rating. The firm also raised its EPS estimates, citing corporate PC market recovery as a cause for both increases.

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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 a number of 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 solid stock price performance, 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."

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