Market Overview

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

Related AMD
Jana Partners 13F Filing Shows Moves In Alibaba & Other Big Names
TD Ameritrade IMX Down, But Clients Are Net Buyers
AMD Shuffles Business Units, Names COO (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.

Latest Ratings for AMD

DateFirmActionFromTo
Oct 2014Pacific CrestUpgradesUnderperformSector Perform
Oct 2014Canaccord GenuityDowngradesBuyHold
Oct 2014Deutsche BankMaintainsHold

View More Analyst Ratings for AMD
View the Latest Analyst Ratings

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

 

Related Articles (AMD)

Around the Web, We're Loving...

Get Benzinga's Newsletters