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UPDATE: Imperial Capital Initiates Coverage On Advanced Micro Devices

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In a note dated June 9, Imperial analyst Ashok Kumar initiated coverage on Advanced Micro Devices (NYSE: AMD) with an Outperform rating and set a $5 price target.

Kumar was pleased with Advanced's first quarter results in which revenue and and EPS came in above estimates. Moreover, he noted that the company has issued second quarter revenue guidance above previous street estimates.

Looking forward, Kumar noted that the company is looking to transition from a PC pure-play to generating as much as half of its revenues from non-traditional PC markets by the end of 2015.

Kumar concluded, "We are optimistic on the fundamentals of the company and the ability of the new business model to generate more consistent margins and cash flows."

Shares of Advanced are trading up almost four percent early in Tuesday's session.

Latest Ratings for AMD

DateFirmActionFromTo
Feb 2020Wells FargoDowngradesOverweightEqual-Weight
Feb 2020RBC CapitalMaintainsOutperform
Jan 2020WedbushMaintainsOutperform

View More Analyst Ratings for AMD
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