AMD (AMD) Earnings Preview, BofA Securities Sees Expectations High But Achievable

January 25, 2021 7:19 AM EST
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Price: $79.10 -3.08%

Rating Summary:
    30 Buy, 18 Hold, 5 Sell

Rating Trend: = Flat

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    Up: 18 | Down: 10 | New: 17
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BofA Securities analyst Vivek Arya reiterated a Buy rating and $110.00 price target on AMD (NASDAQ: AMD) on the expectation that the company will deliver modest beats in Q4 results and for the Q1 outlook.

The analyst stated "We don’t rule out the potential for guide to be inline or even higher than consensus, but supply constraints at TSMC (and some enterprise recovery tailwinds in 2H) remain the primary limitation on management’s ability/desire to set a high bar at the start of the year. If potential upside is from consoles will be at expense of GM, and will likely be ignored. The stock likely remains volatile until there is clarity on rival INTC’s outsourcing strategy under its new incoming CEO, but we believe AMD is a structural share gainer in compute for the next several years on its roadmap and execution consistency".

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 $94.11 yesterday.

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