Back to mobile site

AMD (AMD) PT Raised to $120 at BofA Securities as Data Center Success Highlights Possible Breakout Potential

June 30, 2021 6:39 AM EDT
Get Alerts AMD Hot Sheet
Price: $112.12 +0.12%

Rating Summary:
    33 Buy, 18 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 13 | New: 72
Trade Now! 
Join SI Premium – FREE

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 Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst PT Change