UPDATE: AMD (AMD) PT Raised to Street High $40 at Rosenblatt

(updated to add analyst comment)

Rosenblatt analyst Hans Mosesmann raised the price target on AMD (NASDAQ: AMD) to Street High $40.00 (from $30.00) while maintaining a Buy rating.

He cites faster ramp in 7nm GPU computer and notes that he is positioning his move today for mid-to-longer term investors.

The analyst comments "AMD’s move over the past several quarters and going forward reminds us of the setup we witnessed with NVDA (NVDA: Buy) nearly 3-years ago when that company transformed from a PC graphics play to a compute powerhouse. However, we stress and cauton that recent enthusiasm on AMD share appears may be implying much faster “CPU” share gains in servers than history would suggest. Server share transitons take tme. We contnue to view AMD achieving 5% server CPU share in 4Q18 and 10% 4-5 quarters thereafer."

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