Jefferies Says Buy AMD (AMD) on Dresden Floods Weakness

Jefferies analyst Mark Lipacis is not worried about AMD (NYSE: AMD) related to the Dresden floods and doesn't think you should be either. He said buy the stock on any weakness associated with the floods. He also likes the stock on gaming inroads and a new notebooks product cycle.

"We think that flooding around AMD's major foundry supplier's facilities in Germany poses a low risk to AMD," Lipacis said. "We are buyers, especially on weakness associated with this concern, and continue to believe that EPS upside from gaming devices (PS4, XBox One) and new product cycles in notebooks is not discounted in the stock."

The analyst reiterated a Buy rating and price target of $5.00 on AMD.

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 $3.94 yesterday.

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