After 5 1/2 Years, AMD (AMD) In No Longer a 'Sell' at Goldman
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Price: $463.00 -0.73%
Rating Summary:
53 Buy, 16 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 20
Rating Summary:
53 Buy, 16 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 20
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After more than 5 1/2 years being on Goldman Sachs' Sell List, the firm upgraded AMD (NYSE: AMD) from Sell to Neutral today.
While off its Sell list, Goldman is far from positive. The gist of their upgrade lies in the fact that the shares have pulled back significantly and their very negative view of its 2H12 results is now shared by the Street. They simply don't see a near-term catalyst for an additional decline.
Goldman said their Neutral rating is "tactical" and they still see Intel (Nasdaq: INTC) as being better positioned than AMD in the high-end.
"We believe that with the consensus negative view of AMD’s 2H12 results and no near-term catalyst, the stock could be flat or up over the next six months."
Investors may begin to evaluate the potential value in graphics and the firm believes AMD's discrete graphics business could be worth $1-$2. AMD has also successfully restructured its debt burden and has no major maturities until 2015, Goldman notes.
Goldman cut their 12-month price target to $3.50 from $4.
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 $3.45 yesterday.
While off its Sell list, Goldman is far from positive. The gist of their upgrade lies in the fact that the shares have pulled back significantly and their very negative view of its 2H12 results is now shared by the Street. They simply don't see a near-term catalyst for an additional decline.
Goldman said their Neutral rating is "tactical" and they still see Intel (Nasdaq: INTC) as being better positioned than AMD in the high-end.
"We believe that with the consensus negative view of AMD’s 2H12 results and no near-term catalyst, the stock could be flat or up over the next six months."
Investors may begin to evaluate the potential value in graphics and the firm believes AMD's discrete graphics business could be worth $1-$2. AMD has also successfully restructured its debt burden and has no major maturities until 2015, Goldman notes.
Goldman cut their 12-month price target to $3.50 from $4.
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 $3.45 yesterday.
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