UPDATE: Wedbush Reiterates Neutral Rating, Raises PT on Intel

In a report issued earlier today, Wedbush Securities announced that they were reiterating their Neutral rating for Intel Corporation INTC and increasing their price target from $26 to $28. Wedbush said in the report “Intel was very upbeat highlighting several upcoming catalysts for 2012: (1) Ivy Bridge and Romley ramps, (2) hard disk drive (HDD) supply recovery, and (3) replenishment of PC supply chain. We maintain our Neutral rating and think shares are fairly valued. We wouldn't be surprised to see the stock trade in a narrow range until there is better visibility on Ultrabook adoption rates and Intel's ability to gain traction in the mobile market.” Intel Corporation closed at $28.47 yesterday.