Deutsche Bank Maintains a 'Hold' on AMD (AMD); Cutting Everything

Deutsche Bank maintains a 'Hold' on AMD (NYSE: AMD) price target of $8.00 (from $9.00).

Analyst, Ross Seymore, said, "2Q12 shortfall likely due to mix of macro & co-specific issues...We lower our 2Q12E from $1.6b (+3% q/q)/$0.13 to $1.4b (-11% q/q)/$0.06
which is in-line with revised guidance. Our 3Q12E is now $1.5b (+7% q/q)/$0.17 compared to $1.78b (+9% q/q)/$0.27 previously. Our 2013E is now $6.1b (flat y/y)/$0.65 compared to $7.1b (+4.5%)/$1.05 previously. Our EPS estimates exclude one-time charges but include ESO expense."

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 $5.62 yesterday.

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