Mizuho Securities analyst Vijay Rakesh raised its price target on AMD (NASDAQ: AMD) to $5.50 (from $4.50) following results but maintained a Neutral rating.

Rakesh commented, "AMD reported 2Q16 Rev/EPS inline with consensus. Strength was driven by its lower margin Semi custom SoCs and better than expected seasonal graphic sales. The SepQ top line guide is up 18% q/q, but with a weaker GM. A low single-digit y/y topline growth implies DecQ potentially down ~14% q/q. Adjusting our estimates and raising PT to $5.50, but maintaining our Neutral rating."

**AMD is up 32% since being highlighted in the Stealth Growth Newsletter on 6/14. Click here if you would like a free trial.

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Shares of AMD closed at $5.22 yesterday.