Friday, September 21, 2018 1:54:22 PM
AMD Bags Second Price Target Hike In Two Days
12:27 pm ET September 21, 2018 (Benzinga) Print
For the second day in a row, a major Wall Street firm has reiterated a bullish outlook and raised its price target for Advanced Micro Devices, Inc. (NASDAQ: AMD).
The Analyst
Jefferies analyst Mark Lipacis reiterated a Buy rating on AMD and raised the price target for the stock from $30 to $36.
The Thesis
A day after Stifel raised its price target for AMD by 80 percent, Lipacis echoed the argument that AMD has a major window of opportunity in the near-term thanks to missteps by rival Intel Corporation (NASDAQ: INTC). (See the analyst's track record here.)
A new report from Fubon Research suggests Intel will not be able to fully supply the high-end PC MPU market through at least the second quarter of 2019, and Lipacis said Intel’s loss is AMD’s gain.
Beyond the market share opportunity, the analyst said Intel’s struggles also help AMD’s fundamentals as well.
“The best scenario for AMD is when Intel is capacity-constrained — not only does AMD benefit from share gains, but also from benign pricing which leads to higher margins."
In the longer-term, Lipacis said it’s encouraging that Intel seems to be gaining a foothold in the high-end commercial desktop and server markets, a sign that its strategy to focus more on performance than price is paying off.
AMD’s share of the server, desktop and notebook markets could grow from 10 percent to as high as 30 percent in 2019, the analyst said.
Price Action
AMD stock was higher by 1.76 percent at the time of publication Friday following the positive commentary and is now up 205.9 percent year-to-date.
Recent AMD News
- AMD Remains the Partner of Choice for World’s Fastest and Most Efficient High Performance Computing Deployments • GlobeNewswire Inc. • 05/13/2024 09:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 08:32:28 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 08:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 08:27:24 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 08:23:47 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 08:20:31 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 08:18:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 08:16:23 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 08:13:59 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 08:09:15 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/08/2024 08:24:51 PM
- AMD Receives IEEE 2024 Corporate Innovation Award for Leadership in Chiplet Design for High-Performance and Adaptive Computing • GlobeNewswire Inc. • 05/08/2024 01:00:00 PM
- Optiver Chooses AMD Enterprise Portfolio to Power its Data Center Modernization, Enabling New Era of Compute and AI • GlobeNewswire Inc. • 05/07/2024 01:00:00 PM
- Easing Worries About Possible Rate Hike May Generate Buying Interest • IH Market News • 05/02/2024 01:06:30 PM
- U.S. Stocks Close Mixed Following Post-Fed Volatility • IH Market News • 05/01/2024 08:35:00 PM
- AMD Reports First Quarter 2024 Financial Results • GlobeNewswire Inc. • 04/30/2024 08:15:11 PM
- U.S. Index Futures Point to Mild Decline Ahead of Key Earnings and Fed Rate Decision • IH Market News • 04/30/2024 11:59:59 AM
- United Shares Surge 5.3% in Q1 2024 Earnings Beat; Take-Two Cuts 5% of Workforce, and More News • IH Market News • 04/17/2024 10:57:39 AM
- AMD to Report Fiscal First Quarter 2024 Financial Results • GlobeNewswire Inc. • 04/16/2024 08:15:00 PM
- AMD launches AI chips for business laptops and desktops • IH Market News • 04/16/2024 02:43:08 PM
- AMD Expands Commercial AI PC Portfolio to Deliver Leadership Performance Across Professional Mobile and Desktop Systems • GlobeNewswire Inc. • 04/16/2024 01:00:00 PM
- Paramount Global Board Shrinks, Morgan Stanley Faces Regulatory Probe, and More News • IH Market News • 04/12/2024 11:05:29 AM
- Delta Generates US$37 Million Profit in Q1, Google and Intel Unveil Cutting-Edge AI Chips, and More News • IH Market News • 04/10/2024 11:13:48 AM
- AMD Extends Leadership Adaptive SoC Portfolio with New Versal Series Gen 2 Devices Delivering End-to-End Acceleration for AI-Driven Embedded Systems • GlobeNewswire Inc. • 04/09/2024 08:15:00 AM
- AMD Recommends Rejection of “Mini-Tender” Offer from Tutanota LLC • GlobeNewswire Inc. • 04/01/2024 08:15:00 PM
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM