AMD (AMD) PT Raised to $50 at RBC Capital; Shares to 'Grind Higher'

RBC Capital analyst Mitch Steves raised the price target on AMD (NASDAQ: AMD) to $50.00 (from $44.00) while maintaining a Outperform rating.

Steves commented, "We are raising our price target on AMD to reflect improving Data Center demand and increased conviction in share gains through 2020. While 2021 is admittedly unclear, we think 2020 has become more attractive."

The analyst continues to think AMD will cross $40 by the end of the year and raising the target to $50 (from $44) in advance of what they believe will be a continued "grind higher" for the stock through year-end.

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