FBR Capital Maintains a 'Market Perform' on AMD (AMD); Despite ASP Declines and Share Losses, Hope Springs Eternal
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Price: $514.39 +6.50%
Rating Summary:
53 Buy, 16 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
53 Buy, 16 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital maintains a 'Market Perform' on AMD (NYSE: AMD), PT $10.
FBR analyst says, "We rate AMD a Market Perform with a $10 price target, and we expect to maintain this stance until AMD’s strategies are fleshed out and a new CEO is brought on board, or until the stock retraces toward $6–$7. While we wanted to be positive on AMD in 2011, the board’s unexpected CEO dismissal leaves AMD without a clear leader or strategy at a very important time for AMD as it ramps integrated APU Fusion processors. With visibility into 32-nm yields, AMD’s leadership, and AMD’s strategy all low, we maintain our rating for now and would rather own Int'l Rectifier (NYSE: IRF), Fairchild (NYSE: FCS), or Marvell (Nasdaq: MRVL) for deep value exposure."
For more ratings news on AMD click here and for the rating history of AMD click here.
Shares of AMD closed at $8.71 yesterday.
FBR analyst says, "We rate AMD a Market Perform with a $10 price target, and we expect to maintain this stance until AMD’s strategies are fleshed out and a new CEO is brought on board, or until the stock retraces toward $6–$7. While we wanted to be positive on AMD in 2011, the board’s unexpected CEO dismissal leaves AMD without a clear leader or strategy at a very important time for AMD as it ramps integrated APU Fusion processors. With visibility into 32-nm yields, AMD’s leadership, and AMD’s strategy all low, we maintain our rating for now and would rather own Int'l Rectifier (NYSE: IRF), Fairchild (NYSE: FCS), or Marvell (Nasdaq: MRVL) for deep value exposure."
For more ratings news on AMD click here and for the rating history of AMD click here.
Shares of AMD closed at $8.71 yesterday.
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