UPDATE: Daiwa Securities Upgrades AMD (AMD) to Buy (1)

Daiwa Securities analyst Louis Miscioscia upgraded AMD (NASDAQ: AMD) from Outperform (2) to Buy (1) with a price target of $150.00 (from $140.00).

The analyst comments "AMD reported 4Q21 on 2/1. Revenue of $4.83b was up a strong 48.8%, beating the street at $4.52b, or by $306m and above the high end of the prior range of $4.4b-$4.6b. EPS of $0.92 (all numbers Non-GAAP and y/y), was 16c above the street’s $0.76. Gross margin of 50.3% was up 553bp and 77bp above guidance. The positive results were driven by high demand across the board, being AMD’s notebook (NB) CPUs, EPYC server processors and Radeon GPUs. On Xilinx acquisition, China has approved, the deal should close in 1Q22. With AMD’s prospects looking good for 2022/2023, and the recent share price decline, we move to a 1-Buy rating, from a 2-Outperform."

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 $128.23 yesterday.

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