The Vetr crowd upgraded their rating of Advanced Micro Devices, Inc. (NASDAQ: AMD) from 4 stars (Buy), issued last week, to 5 stars (Strong Buy). Vetr user sentiment on the stock is also high with 80 percent of the crowd’s ratings bullish.
The tech sector has seen a fairly healthy rally over the past couple of weeks between AMD, NVIDIA Corporation (NASDAQ: NVDA), Intel Corporation (NASDAQ: INTC), Apple Inc. (NASDAQ: AAPL) and Microsoft Corporation (NASDAQ: MSFT) (among others) all trending upward since November 14.
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A recent deal with Alphabet Inc's (NASDAQ: GOOGL) Google to use AMD’s processing units for its cloud computing platform has probably contributed to some of this momentum. It certainly hasn't hurt as shares are up 23 percent from about $7 last week to $8.70.
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Currently, Vetr’s average target price for AMD is at $10.23, well above the average analyst target price of $5.85. Less than 2 percent of Vetr users are holding AMD in their watch lists.
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