AMD (AMD) PT Raised to $4.50 at Jefferies on 'Beat and Raise' Qtr
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Rating Summary:
46 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Jefferies analyst Mark Lipacis reiterated a Buy rating and raised his price target on AMD (NASDAQ: AMD) to $4.50 (from $3.50) following the 'beat and raise' quarter from the company.
Lipacis commented, "AMD Beat 1Q and Raised 2Q outlook on new product visibility. Importantly, it announced a JV with a Chinese group to license its server technology to make x86 processors for the Chinese market for $193m in license fees and royalties on products sold. Our thesis has been that AMD has a unique set of IP (x86, ARM, Graphics, Server) that ultimately will get monetized - we wouldn't be surprised to hear more announcements in the future. Reiterate Buy."
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 $2.62 yesterday.
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