Credit Suisse Upgrades AMD (AMD) to Neutral
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) in Advanced Talks to Acquire B/E Aerospace (BEAV) - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk 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.
Shares of AMD closed at $6.50 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- AMD (AMD) Q3 'Solid' - Jefferies
- Wedbush Reiterates Outperform on Pool Corp. (POOL) Following 3Q Report
- KLA-Tencor (KLAC) PT Raised to $85 at Cowen
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Upgrades
Related EntitiesCredit Suisse
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!