Barclays Downgrades AMD (AMD) to Underweight

Barclays downgraded AMD (NASDAQ: AMD) from Equalweight to Underweight with a price target of $9.00.

Analyst Blayne Curtis fails to believe the company's products can gain enough traction to support the current valuation which he says is expensive. The comments come after seeing the launch of Purley and Epyc along with some third-party benchmarks which left feeling as if the rubber is meeting the road but leaves him feeling upside is limited from here.

FY 2017 EPS estimate remains at $0.08 and FY 2018 EPS estimate remains at $0.33.

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 $13.80 yesterday.

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