Wachovia Starts Intel (INTC) at Outperform
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Wachovia initiates coverage on Intel Corp. (Nasdaq: INTC) with an Outperform rating with a $39-$34 valuation rainge. The firm said, "In our view, Intel's attractive features include a strong product lineup, technology leadership, an ongoing cost cutting and restructuring effort, and strong financials ... We expect that over the next few quarters Intel will continue to gain microprocessor market share and improve margins."
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