AMD (AMD) PT Lifted to $5.50 at Mizuho But Remains Sidelined

Mizuho Securities analyst Vijay Rakesh raised its price target on AMD (NASDAQ: AMD) to $5.50 (from $4.50) following results but maintained a Neutral rating.

Rakesh commented, "AMD reported 2Q16 Rev/EPS inline with consensus. Strength was driven by its lower margin Semi custom SoCs and better than expected seasonal graphic sales. The SepQ top line guide is up 18% q/q, but with a weaker GM. A low single-digit y/y topline growth implies DecQ potentially down ~14% q/q. Adjusting our estimates and raising PT to $5.50, but maintaining our Neutral rating."

**AMD is up 32% since being highlighted in the Stealth Growth Newsletter on 6/14. Click here if you would like a free trial.

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 $5.22 yesterday.

You May Also Be Interested In

• Chipmakers in focus: Intel and AMD gear up for Q1 earnings report
• Smurfit Kappa Group Plc. (SKG:LN) (SMFKY) PT Raised to GBP41 at JPMorgan
• Smurfit Kappa Group PLC (SKG:ID) PT Raised to EUR48 at JPMorgan