Topeka Capital Starts AMD (AMD) at Hold

Topeka Capital initiated coverage on AMD (NASDAQ: AMD) with a Hold rating and a price target of $2.

Analyst Suji Desilva said, "We are encouraged by AMD's diversification away from client PC exposure, with increased focus on embedded and gaming opportunities. While AMD is trading at a significant discount to comparables, we believe further share appreciation will be contingent on stabilization of PC demand visibility, traction in non-PC efforts and ultimately increasing visibility on a return to profitability."

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 $1.90 yesterday.

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