AMD (AMD) PT Raised to $120 at BofA Securities as Data Center Success Highlights Possible Breakout Potential
- Wall St ends up with Goldman; Dow posts biggest weekly rise since June
- Goldman Sachs (GS) Smashes Analyst 3Q Views on Robust M&A and Underwriting Activity
- Tesla (TSLA) Stock: Jefferies Raises Price Target on Higher Capacity Ramp and Sustained Demand, Berlin Giga Will Set New Design and Assembly Standards Says Analyst
- Food, fuels lift U.S. import prices in September
- SEC to Allow First Ever Bitcoin (BTC) ETF - Report
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
BofA Securities analyst Vivek Arya raised the price target on AMD (NASDAQ: AMD) to $120.00 (from $110.00) after the company demonstrated its supercomputing success with share increasing to 9.8%, 5x YoY) and a recent endorsement by Google. These two events suggest break-out potential in AMD’s data center segment.
The analyst maintained a Buy rating, stating "even if supply constraints limit further CY21 revision, the improving mix towards data center could provide catch-up potential. We find valuation compelling (only semis below its 3-yr median forward PE), and at 6x CY22E EV/S a nearly 50% discount to SPX Infotech growth peers. We reiterate our Buy, raise our PO to $120 (30%+ upside) from $110 now on 45x CY22E EPS (vs. 42x prior) in line with growth peers".
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: BofA Securities Downgrades Futu Holdings Limited (FUTU) to Underperform
- Contemporary Amperex Technology Co Ltd (300750:CH) PT Lowered to RMB461 at Goldman Sachs
- Man Group Plc. (EMG:LN) (MNGPY) PT Raised to GBP2.20 at Goldman Sachs
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
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!