Nomura Securities Maintains a 'Neutral' on AMD (AMD); Q1 Preview: Lack of Strong Results/Guidance Will Pressure Shares

Nomura Securities maintains a 'Neutral' on AMD (NYSE: AMD) price target of $5.00.

Analyst, Romit Shah, said, "We expect AMD to report Q1 revenue/EPS slightly better than consensus and our estimates of $1.56bn/$0.10. However, consensus revenue growth of 2% q/q to $1.59bn may prove too optimistic due to seasonality and subdued PC demand. AMD has been the best performing stock in our coverage this year, up 44% YTD. Some investors may argue that the stock was oversold in 2011, but we believe a lack of upside to Q1 results and guidance may pressure shares in the short term. AMD trades at 11x PE (NTM) versus Intel at 12x and our coverage universe at 16x."

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 $7.75 yesterday.

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