Deutsche Bank Maintains a 'Hold' on AMD (AMD); Two Causes To Weak Guidance
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Price: $4.08 -0.24%
Rating Summary:
5 Buy, 15 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
5 Buy, 15 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
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Deutsche Bank maintains a 'Hold' on AMD (NYSE: AMD) price target moved to $6.00.
Deutsche analyst said, "AMD delivered 2Q results that were in-line with their negative pre and provided weaker than expected 3Q guidance. While we think AMD's NT strategy is on the right track (holding margins), we are reducing estimates and P/T to reflect the weaker guidance. We retain our rating as we remain concerned regarding LT competitive pressures and relative valuation expansion limitations."
"Our 3Q12 rev/EPS estimates move to $1.39b (-1% q/q)/$0.03 from prior $1.51/$0.17. Our 2012E is now $5.86b (-11% y/y)/$0.28 compared to $6.1b (-7% y/y)/$0.58 prior. Our 2013 rev/EPS ests move to $5.88b (flat y/y)/$0.35 from prior $6.1b/$0.65. Overall, we expect AMD to lose significant MPU mkt share in 2012, with stabilization in 2013."
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 $4.86 yesterday, with a 52 week range of $4.31-$8.35.
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Deutsche analyst said, "AMD delivered 2Q results that were in-line with their negative pre and provided weaker than expected 3Q guidance. While we think AMD's NT strategy is on the right track (holding margins), we are reducing estimates and P/T to reflect the weaker guidance. We retain our rating as we remain concerned regarding LT competitive pressures and relative valuation expansion limitations."
"Our 3Q12 rev/EPS estimates move to $1.39b (-1% q/q)/$0.03 from prior $1.51/$0.17. Our 2012E is now $5.86b (-11% y/y)/$0.28 compared to $6.1b (-7% y/y)/$0.58 prior. Our 2013 rev/EPS ests move to $5.88b (flat y/y)/$0.35 from prior $6.1b/$0.65. Overall, we expect AMD to lose significant MPU mkt share in 2012, with stabilization in 2013."
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 $4.86 yesterday, with a 52 week range of $4.31-$8.35.
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