FBR Capital Upgrades AMD (AMD) to Outperform; Switching Out of Intel (INTC)
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Price: $4.07 -0.49%
Rating Summary:
5 Buy, 15 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
5 Buy, 15 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade AMD Now!
FBR Capital upgraded AMD (NYSE: AMD) from Market Perform to Outperform. PT $12.
FBR analyst says, "We are switching out of Intel (Nasdaq: INTC) (downgraded to MP) and into AMD following checks that suggest AMD should gain both desktop and notebook processor market share in 2H11 at HP and Acer. Further, we previously said we like AMD closer to $7, and shares have mostly retraced there. While we are not "negative" on INTC at $22, shares have herculean difficulties breaking out above $24, and after a period of outperformance in a down tape, it seems appropriate to overweight AMD while shares are depressed ahead of possible 2H11 Fusion goodness. Post-Computex discussions suggest AMD’s Fusion APUs are priced 10%– 15% below Intel’s Sandy Bridge, and that AMD’s better DX11 graphics are a selling point versus Intel’s DX10 graphics."
For more ratings news on AMD click here and for the rating history of AMD click here.
Shares of AMD closed at $7.50 yesterday, with a 52 week range of $5.53-$9.58.
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FBR analyst says, "We are switching out of Intel (Nasdaq: INTC) (downgraded to MP) and into AMD following checks that suggest AMD should gain both desktop and notebook processor market share in 2H11 at HP and Acer. Further, we previously said we like AMD closer to $7, and shares have mostly retraced there. While we are not "negative" on INTC at $22, shares have herculean difficulties breaking out above $24, and after a period of outperformance in a down tape, it seems appropriate to overweight AMD while shares are depressed ahead of possible 2H11 Fusion goodness. Post-Computex discussions suggest AMD’s Fusion APUs are priced 10%– 15% below Intel’s Sandy Bridge, and that AMD’s better DX11 graphics are a selling point versus Intel’s DX10 graphics."
For more ratings news on AMD click here and for the rating history of AMD click here.
Shares of AMD closed at $7.50 yesterday, with a 52 week range of $5.53-$9.58.
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