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Verizon Win, China Console Ban Removal Positive for AMD (AMD) - FBR

October 7, 2013 8:32 AM EDT Send to a Friend
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FBR Capital analyst Christopher Rolland boosted his price target on Outperform-rated AMD (NYSE: AMD) from $5.50 to $6, noting Verizon further embraces SeaMicro and China lifted its console ban.

"Last week at Interop NY, Verizon announced two enterprise infrastructure-as-aservice offerings designed to challenge Amazon Web Services," Rolland notes. "Details surrounding the announcement lead us to believe that Verizon has chosen SeaMicro microservers to power these platforms and may provide AMD as much as ~$50M in incremental annual revenues."

He added, "Furthermore, China has relaxed its national gaming console ban, causing us to increase our 2015 Xbox One and PS4 estimates. Additionally, AMD may have a chance at providing parts for both the MS "Bestpad" and Sony "Vita TV."

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 $3.91 yesterday.




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