UPDATE: Raymond James Starts AMD (AMD) at Outperform

April 15, 2021 6:55 AM EDT
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Price: $74.99 -1.32%

Rating Summary:
    30 Buy, 18 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 25 | Down: 19 | New: 37
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(Updated - April 15, 2021 7:07 AM EDT)

Raymond James analyst Chris Caso initiates coverage on AMD (NASDAQ: AMD) with a Outperform rating and a price target of $100.00.

The analyst comments "We are using the pullback since the start of the year to get involved with AMD, which we expect to be a secular winner due to what we believe to be a durable technical advantage vs. Intel. We think the stock’s pullback has been driven by improved sentiment that Intel will solve their manufacturing challenges, which will reverse AMD’s successes. We’re taking the other side of that view. Now that Intel has committed to internal manufacturing, we think it’s unlikely that Intel ever regains a transistor advantage vs. AMD, and the current roadmaps ensure an advantage for AMD/TSMC through at least 2024. In the meantime, we think Street numbers are too low for both server and consoles, putting our base case 2022 EPS estimate of $2.81 12% ahead of the Street, with an upside case to about $3.00."

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 $79.52 yesterday.

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