Mizuho Raises Advanced Micro Devices (AMD) Price Target But Keeps Neutral Rating
- Wall Street falls as investors ready for Trump's inauguration
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
- Skyworks Solutions (SWKS) Tops Q1 EPS by 3c, Offers Q2 Guidance, Announces Buyback
- After-Hours Stock Movers 01/19: (SWKS) (QRVO) (NVAX) Higher; (AFMD) (SGYP) (IBM) Lower (more...)
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Mizuho Securities analyst, Vijay Rakesh, reiterated his Neutral rating on AMD (NASDAQ: AMD) but raised his price target to $7.00 (from $5.50) after AMD announced an updated 5-year wafer supply agreement (WSA) with GLOBALFOUNDRIES (GF) through December 31, 2020. The agreement establishes a framework for collaboration from the 14nm to the 7nm node. The analyst views the stock as a show me story though.
AMD is taking some of the $335M in expenses as a one-time charge in 3Q16, and issuing a 75M share in the-money warrant to Mubadala. The analyst believes "it is getting to be show me time for Zen" and the stock values the recent financial improvement. "Further upside will likely depend on high margin server traction with Zen which could be much more challenging".
Shares of AMD closed at $7.40 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Goldman Sachs (GS) PT Raised to $256.00 at Oppenheimer Following 4Q Report
- Checkpoint Software (CHKP) PT Raised to $115 at Oppenheimer
- Netflix (NFLX) PT Raised to $160 at Guggenheim
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Analyst PT Change, Management Changes
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!