AMD's stock rallies after analyst boosts price target 81% [MarketWatch]
Advanced Micro Devices, Inc. (AMD)
Last advanced micro devices, inc. earnings: 4/28 04:25 pm
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Source: MarketWatch
AMD's stock rallies after analyst boosts price target 81% Shares of Advanced Micro Devices Inc. AMD, +0.90% rallied 2% in premarket trade Thursday, after Stifel Nicolaus analyst Kevin Cassidy raised his price target by 81% to $38 from $21, citing increased optimism regarding market share gains. Cassidy's target, which is 22% above Wednesday's closing price of $31.21, is now the third highest among the 31 analysts surveyed by FactSet; FBN Securities and Rosenblatt Securities both have $40 price targets. Cassidy said that since he upgraded AMD to buy in April, management has continued their "stellar performance" of executing to plan. He said the 7-nanometer EPYC server chip is sampling to customers, which is expected to generate revenue beginning in the second-half of 2019. "Meanwhile, Intel not only hasn't had a competitive response but is likely struggling to meet demand," Cassidy wrote in a note to clients. "This opens the door for continued market share gains by AMD, in our view.
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AMD
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AMD
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- 4/15/24 - Form 144
- AMD's page on the SEC website