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Intel upgraded by Barclays right before earnings due out Tuesday after the bell

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Investors should buy Intel shares because of improving sales and cheap valuation, according to Barclays, which raised its rating on the chipmaker to overweight from equal weight.

"Intel is poised to return to sustainable growth on the back of ... better PC trends," analyst Blayne Curtis wrote in a note to clients Tuesday. "We believe Intel can transition from a no-growth story to one of accelerating growth and in turn will garner a better valuation for such a dominant franchise."

Intel is scheduled to announce third-quarter financial results after the market close Tuesday.

Curtis' picks have a 10 percent one-year average return with a 64 percent success rate, according to analyst ranking service TipRanks, placing him in the top 8 percent of all Wall Street analysts covering any industry.