Nomura Securities Reiterates a 'Buy' on AMD (AMD); Inflection Point in Q3
AMD Hot Sheet
Rating Summary:11 Buy, 7 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 20 | Down: 11 | New: 38
Nomura Securities reiterates a 'Buy' on AMD (NYSE: AMD).
Nomura analyst, Romit Shah, says, "We believe many investors are on the fence on AMD, seeing earnings power of $1.00+ but at the same time cautious on PC demand and skeptical of share gains. Although we share these concerns, we believe consensus is under-estimating the impact of mainstream notebook offering Llano on ASPs and gross margin. We see an inflection point in Q3, and AMD overall generating as much as $0.80 in 2011 and $1.10 in 2012. Valuation at 1.0x EV/sales is attractive in our view relative to a trough of 0.7x and Intel (Nasdaq: INTC) and Nvidia (Nasdaq: NVDA) at 2.5x."
For more ratings news on AMD click here and for the rating history of AMD click here.
Shares of AMD closed at $8.90 yesterday, with a 52 week range of $5.53-$9.78.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
Nomura analyst, Romit Shah, says, "We believe many investors are on the fence on AMD, seeing earnings power of $1.00+ but at the same time cautious on PC demand and skeptical of share gains. Although we share these concerns, we believe consensus is under-estimating the impact of mainstream notebook offering Llano on ASPs and gross margin. We see an inflection point in Q3, and AMD overall generating as much as $0.80 in 2011 and $1.10 in 2012. Valuation at 1.0x EV/sales is attractive in our view relative to a trough of 0.7x and Intel (Nasdaq: INTC) and Nvidia (Nasdaq: NVDA) at 2.5x."
For more ratings news on AMD click here and for the rating history of AMD click here.
Shares of AMD closed at $8.90 yesterday, with a 52 week range of $5.53-$9.78.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
You May Also Be Interested In
- UPDATE: Auriga Starts Teva Pharma (TEVA) at Hold; Sidelined Until New CEO Is Convincing
- Barclays Cuts PT and Estimates on Dell (DELL); Apple's (AAPL) Momentum Proves Disrupting
- Nomura Securities Raises PT and Estimates on PetSmart (PETM) After Good Q1
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Nomura, EarningsSign 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!
