JMP Cuts AMD (AMD) to Market Underperform, Sets $4.50 Price Target

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Shares of AMD (NYSE: AMD) have tumbled about 2.6 percent in pre-market action Monday morning following a downgrade from an analyst at JMP Securities. After closing last week's session at $6.95, AMD shares last traded around $6.77.

JMP reduced its investment rating from Market Perform to Market Underperform and set a new $4.50 price target.

The firm's new price target implies potential downside of about 34 percent.

For more ratings news on AMD click here and for the rating history of AMD click here.

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