JP Morgan Reiterates Overweight On INTC

JP Morgan has issued a report reiterating the Overweight Rating on Intel INTC. According to the report, "Yesterday after the close, Intel reported 2Q11 results above our and consensus estimates due to higher revenue and lower share count and taxes and guided 3Q11 above consensus. We continue to expect upside to consensus estimates driven by stronger-than-expected pricing and an increase in PC demand." INTC has a $25 Price Target and closed yesterday at $22.99 a share.