Credit Suisse Upgrades AMD (AMD) to Neutral

October 12, 2016 6:24 AM EDT
Get Alerts AMD Hot Sheet
Price: $7.50 --0%

Rating Summary:
    10 Buy, 16 Hold, 8 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 9 | Down: 16 | New: 5
Trade AMD Now!
Join SI Premium – FREE

Get access to the best calls on Wall Street with's Ratings Insider Elite. Get your Free Trial here.

Credit Suisse upgraded AMD (NASDAQ: AMD) from Underperform to Neutral with a price target of $7.00 (from $5.50).

Analyst John Pitzer commented, "... we believe NT momentum over the next few quarters will continue to offset many of our longer term concerns around lack of scale."

The firm sees the following positive catalysts:

(1) C3Q/C4Q guidance looks conservative

(2) Recent funding significantly improves balance sheet, liquidity, and trough valuation

(3) Renegotiation of WSA provides flexibility and a more credible roadmap

(4) Zen product launch in 2017 should help the narrative

(5) AMD IP still valuable, with monetization still likely.

For an analyst ratings summary and ratings history on AMD click here. For more ratings news on AMD click here.

Shares of AMD closed at $6.50 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst PT Change, Upgrades

Related Entities

Credit Suisse

Add Your Comment