Nomura Securities Maintains a 'Buy' on AMD (AMD); See Share Gains and Stronger Product Mix
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Price: $514.39 --0%
Rating Summary:
53 Buy, 16 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 9 | New: 14
Rating Summary:
53 Buy, 16 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 9 | New: 14
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Nomura Securities maintains a 'Buy' on AMD (NYSE: AMD) price target of $12.00.
Nomura analyst, Romit Shah, said, "AMD underperformed significantly in 2Q11 owing to uncertainty over new leadership and weak PC demand. However, the company delivered Q2 EPS above guidance and projected Q3 revenue and EPS above consensus. Although we are cautious on PC demand in the back half of the year, we believe over half of AMD’s growth this quarter will come from share gains and a stronger product mix. It is also worth noting that gross margins are expanding and that cash flow from operations was the highest in 13 quarters. Given consensus estimates are rising and a low valuation (0.7x EV/Sales), we are maintaining our rating and price target."
For more ratings news on AMD click here and for the rating history of AMD click here.
Shares of AMD closed at $6.50 yesterday.
Nomura analyst, Romit Shah, said, "AMD underperformed significantly in 2Q11 owing to uncertainty over new leadership and weak PC demand. However, the company delivered Q2 EPS above guidance and projected Q3 revenue and EPS above consensus. Although we are cautious on PC demand in the back half of the year, we believe over half of AMD’s growth this quarter will come from share gains and a stronger product mix. It is also worth noting that gross margins are expanding and that cash flow from operations was the highest in 13 quarters. Given consensus estimates are rising and a low valuation (0.7x EV/Sales), we are maintaining our rating and price target."
For more ratings news on AMD click here and for the rating history of AMD click here.
Shares of AMD closed at $6.50 yesterday.
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