Market Overview

UPDATE: Canaccord Genuity Upgrades Advanced Micro Devices as Embedded Ramp Accelerates

Related AMD
Roche Meets Sales Estimates in Q1 - Analyst Blog
Market Wrap For April 17: Mixed Earnings Drag The Dow Lower While S&P 500 & Nasdaq End Positive
AMD Reveals 1Q Beat as Revenue Leaps 28% (Fox Business)

In a report published Thursday, Canaccord Genuity analyst Bobby Burleson upgraded Advanced Micro Devices (NYSE: AMD) from Hold to Buy, and raised the price target from $3.00 to $5.00.

In the report, Canaccord Genuity noted, “We are upgrading shares of AMD to BUY from Hold ahead of what we expect to be strong performance versus PC-centric names as the company ramps its embedded business and begins to transition away from a near-exclusive reliance on PC demand. Specifically, we believe the embedded opportunity could drive momentum in Q3 as game consoles where AMD supplies custom silicon begin their production ramp ahead of the holiday shopping season. We are increasing our estimates and raising our price target to $5 from $3.”

Advanced Micro Devices closed on Wednesday at $3.98.

Posted-In: Bobby Burleson Canaccord GenuityAnalyst Color Upgrades Analyst Ratings

 

Most Popular

Related Articles (AMD)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free