UPDATE: AMD (AMD) Bullish View Reiterated at Jefferies on Zen Potential, Accretive Financing
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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.
Shares of AMD closed at $6.05 yesterday.
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