BMO Capital Upgrades AMD (AMD) to Outperform
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BMO Capital analyst Ambrish Srivastava upgraded AMD (NASDAQ: AMD) from Market Perform to Outperform with a price target of $115.00 (from $100.00).
The analyst comments "We are raising our rating on shares of AMD to an Outperform from a Market Perform. There is no going back for customers to the old days of when AMD's share would be capped. We see a sustainable compute franchise as a result of continued superior execution on all fronts under Dr. Su's leadership. We are hearing of continued momentum from our work around the industry, and see AMD's server share continuing to expand. We are lowering estimates, some due to near-term headwinds, but are raising our target to $115 from $100."
Shares of AMD closed at $77.52 yesterday.
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