Wednesday, July 18th 2018
Analyst Kevin Cassidy, responsible for AMD shares rating with Stifel, has revised expected AMD growth in the wake of expected (and already verified) PC market growth. Following the news at the end of last week, AMD shares jumped by 5% on Friday, and increased by another 2% on Monday. This marks an increase of 61.3% YTD (year-to-date.) Looking at this trend, the analyst increased his 12-month price target on the stock to $21 from $17, a nearly 27% upside from Monday close.
"We expect AMD to benefit from the stronger than expected results, especially given the trends for enterprise, gaming, and high-end notebooks, all markets in which AMD has improved its competitive position through its Ryzen processors."Source: Investopedia
Kevin Cassidy, Stifel