UPDATE: AMD (AMD) PT Raised to 'Street High' $27 at Rosenblatt; Q4 an Inflection Point in CPU Market Share
(updated to expand on analyst comments)
Rosenblatt raised its price target on AMD (NASDAQ: AMD) to $27.00 ($22.00) while maintaining a Buy rating citing a Q4 inflection point in CPU share gains.
Analyst Hans Mosesmann called Q4 "another beat and raise as AMD is executing on all fronts."
While there could be minor controversy coming from an accounting revenue recognition change, numbers are going up and driven broadly by Ryzen, GPUs, and EPYC.
"We believe 4Q17 was an inflection point in CPU market share (AMD up mid-teens q/q and well over 50% y/y), that will continue in 2018," the analyst said.
He added, "An unexpected move by AMD to guide to 28% OpEx levels in 2018 (long term model levels), is a bullish signal and perhaps opportunistic by AMD to take advantage of a vulnerable Intel (INTC: Sell) CPU and process node roadmap in 2018."