AMD (AMD) PT Raised to $29 at Deutsche Bank Ahead of Earnings Report Tuesday After The Bell

Deutsche Bank analyst Ross Seymore raised the price target on AMD (NASDAQ: AMD) to $29.00 (from $25.00) while maintaining a Hold rating.

The analyst comments "AMD is scheduled to report 2Q19E results after market close on Tuesday, July 30th.A call to discuss results will be held at 5:30pm ET. We expect an in-line/in-line report/guide for AMD results (our model/Street assumes +20%/ +25% q/q in 2Q/3Q) to arrive in the range of AMD’s full year revenue guidance of high-single digit y/y. AMD released new products in both desktop CPUs/GPUs on 7/7/19, which, when combined with improved q/q trends in EESC (semi-custom should resume a higher level of shipments, server CPUs should continue to ramp), should enable double-digit q/q growth in both 2Q and 3Q."

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