UPDATE: AMD (AMD) Bullish View Reiterated at Jefferies on Zen Potential, Accretive Financing

September 19, 2016 7:53 AM EDT
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Price: $10.18 +2.72%

Rating Summary:
    13 Buy, 16 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 17 | New: 10
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(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.

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 $6.05 yesterday.

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