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Technology Stocks : Intel Corporation (INTC)

INTC 36.85

+1.6%

Dec 19 3:59 PM EST

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To: Arthur Radley who wrote (172055)	12/2/2002 8:25:59 AM
From: Road Walker	Read Replies (1) of 186894

Lehman raises Intel, AMD ratings Monday December 2, 8:06 am ET (Adds details) NEW YORK, Dec 2 (Reuters) - Lehman Brothers on Monday said analyst Dan Niles raised his rating on Intel Corp. (NasdaqNM:INTC - News) to "overweight" from "equal weight" and upgraded Advanced Micro Devices Inc. (NYSE:AMD - News) to "equal weight" from "underweight," citing growing demand for computers that use the two companies' microchips. ADVERTISEMENT "We believe we are in the early stages of a slowly improving IT demand environment," Niles told clients in a note. "First, improving corporate profits should drive increased business investment. Next, the installed base continues to age with about 180 million PCs (personal computers) over 4 years old," he wrote. Niles also raised his 12-month price target on Intel to $24 from $17 and on AMD to $10 from $6. Intel closed at $20.88 on Friday, while Advanced Micro closed at $8.50.

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