Banc of America Securities upgrades Intel, other chip stocks

Discussion in 'Stocks' started by ASusilovic, Apr 10, 2008.

  1. Banc of America Securities upgraded a slew of chip stocks Thursday, saying the inventory buildup that prompted its sector downgrade in January has worked its way through company fundamentals and Wall Street estimates. The broker upgraded Intel Corp. to buy from neutral, citing market share gains, the chip-maker's share buyback program and expectations that it will beat margin forecasts. Also upgraded to buy from neutral where Analog Devices Inc , Power Integrations Inc, and Semtech Corp . Meanwhile, Banc of America Securities also upgraded National Semiconductor Corp. PMC-Sierra Incand LSI Corp. to neutral from sell.

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