Analysts Cautious on PC-Weighted Names after AMD (AMD) Reports Weak Revs.

Canaccord Genuity maintained a Hold rating on AMD (NYSE: AMD) and cut its price target to $3.00 (from $5.00).

Yesterday AMD pre-announced lower revenue and gross margin.

"This corroborates our cautious PC supply chain checks and supports remaining cautious on PC-weighted names in our group, including Intel (Nasdaq: INTC) and Marvell (Nasdaq: MRVL)," said analyst Bobby Burleson.

He said he would buy NVIDIA (Nasdaq: NVDA) on weakness.

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 $3.20 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Honasa Consumer Ltd (HONASA:IN) PT Raised to INR720 at ICICI Securities
• GMR Airports Infrastructure (GMRI:IN) PT Raised to INR99 at ICICI Securities