AMD (AMD) Estimates Raised Above the 60% Growth Guidance at Cowen
- Solid Microsoft forecast, tech strength push Nasdaq higher
- Alphabet (GOOGL) Tops EPS and Revenue Estimates But Shares Dip on YouTube and Cloud Miss, Analysts See Positive Risk/Reward Despite High Expectations
- Oil drops more than 1% as U.S. stockpiles rise sharply
- Microsoft (MSFT) Stock Gains on Strong FQ1 Results and Guidance, Analysts Raise Price Targets on Azure and Windows Outperformance
- Goldman Sachs Expects Coca-Cola (KO) Stock to Outperform Today After Strong Q3 Results
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
Cowen analyst Matthew Ramsay reiterated an Outperform rating and $120.00 price target on AMD (NASDAQ: AMD) and raised estimates \above AMD's +60% Y/Y guidance on higher DC GPU/console revenue in 2H. Consensus estimates already include strong server growth and robust PC sales but Xilinx could be the next catalyst.
The analyst stated "Even after raising 2021 growth guidance to 60% from 50% on the 2Q21 earnings call, we see upside to numbers from continued PC strength and server sales momentum and upside from DC GPUs/consoles. To be clear, we believe AMD has the capacity to deliver modest upside, which would have been higher should incremental supply have been available."
Shares of AMD closed at $105.04 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- AMD (AMD) Extending its Zen-4 Lead, PT Raised to $145 at Jefferies
- Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (2196:HK) PT Lowered to HK$54 at Morgan Stanley
- AMD (AMD) PT Raised to $145 at Cowen
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change
Related EntitiesCowen & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!