Jefferies Upgrades AMD (AMD) to Buy, Boosts Target 50%

Jefferies upgraded AMD (NYSE: AMD) to Buy, moving its price target 50 percent higher to $10.50 (from $7 prior).

The firm comments, "AMD offers one of the best risk/reward ratios in semis. On the risk-side, AMD is trading near its '08 EV/S, when its interest coverage broke 1.0 and net debt was ~$4 billion. On the reward side, AMD's APU delivers a unique MPU + high-end graphics product to the low end and mainstream mobile markets, driving share gains in both segments. We think share gains continue and improving manufacturing yields could translate to upside surprises."

Jefferies raised FY12 EPS form $0.56 to $0.68 and FY13 EPS from $0.77 to $1.08.

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 $7.76 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Jefferies Upgrades Brightstar Lottery (BRSL) to Buy
• Tata Motors Passenger Vehicles (TMPV:IN) PT Raised to INR375 at ICICI Securities
• Lithium Ionic Corp (LTH:CN) PT Lowered to Cdn$2.50 at Desjardins