Intel upgraded to Market Perform from Underperform at Bernstein

Bernstein analyst Stacy Rasgon upgraded Intel to Market Perform from Underperform with a price target of $30, up from $20, saying that while things still look bad, tactically the medium-term set-up is, finally, improving a bit, as the company’s issues are known, and numbers may be low enough to stand. While the firm says it "wouldn’t want to own it," Bernstein can now make the argument that downside could be more limited at least into the back half.