Stocks Up on Upgrade: Alcoa (NYSE:AA) and Intel (NASDAQ:INTC)

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Shares of Alcoa Inc. (NYSE:AA) gapped up and surged over 6.70% to $15.56 after making a new 52-week high of $15.58. Today, analysts at Morgan Stanley have upgraded Alcoa’s shares from to overweight from equal-weight and set a $22 price target. The stock is trading at 10 times spot aluminum before factoring in improvements the broker sees for alumina and downstream businesses.

Also, this morning Intel Corporation (NASDAQ:INTC)’s shares had a boost from Barclays Capital this morning, which upgraded the company’s stock to overweight from equal-weight.

Currently Intel is up 2% to $20.02 on 1.20 million shares after making a new 52-week high of $22.06.

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