FBR Capital Upgrades AMD (AMD) to Outperform Ahead of Results
Intra-day, FBR Capital upgraded Advanced Micro Devices Inc. (NYSE: AMD) from Market Perform to Outperform with a $5.25 price target. The upgrade follows positive comments and raised estimates from the broker earier. FBR said they are "putting our money where our mouth is" with the upgrade.
On the upgrade the firm said, "We do think the company will report strong 2Q results and 3Q guidance on Tuesday after the market close, so this is a somewhat shorter-term call in nature. Our new distributor checks suggest Asian distributors had a stronger-than-expected June quarter and are more positive about 3Q shipment prospects. In addition, recent checks for AMD and the PC supply chain have strengthened."
Real-Time Market Moving News Two-Weeks FREE http://www.streetinsider.com/premium_content.php
You May Also Be Interested In
- UPDATE: Tourbillion Says MannKind (MNKD) Massively Overvalued - Bloomberg
- Level 3 Communications (LVLT) to Replace Jabil Circuit (JBL) in S&P 500
- Hewlett-Packard (HPQ) Unveils 3D Printing System
Create E-mail Alert Related CategoriesTrader Talk, Upgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!