UPDATE: AMD (AMD) Bullish View Reiterated at Jefferies on Zen Potential, Accretive Financing
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
(Updated - September 19, 2016 7:56 AM EDT)
(correction: PT was not raised, was maintained a $9)
Jefferies analyst, Mark Lipacis, reiterated his Buy rating and $9 price target on shares of AMD (NASDAQ: AMD) after updating the model to account for the recent debt+equity financing, and increasing 2017 EPS by $0.08. The analyst's checks on AMD's Desktop Zen indicate it will take share and he estimates that Zen (DT+Server+NB) could ultimately be $0.22-to-$0.96 accretive. He thinks there are multiple catalysts over the next 9 months.
The analyst thinks AMD's new CEO is executing a turnaround and the Street has not accepted this yet.
Shares of AMD closed at $6.05 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Downgrades Alcobra Ltd. (ADHD) to Hold
- Piper Jaffray Downgrades CoLucid Pharmaceuticals (CLCD) to Neutral Amid Takeover
- Deutsche Bank Raises Price Target on IHS Markit (INFO) to $44; Reiterates Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesJefferies & Co
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!