8:10AM AMD upgraded to Outperform at Schwab Soundview; tgt raised to $23 16.76: Soundview is upgrading Advanced Micro Devices to Outperform from Neutral and raises tgt to $23 from $16 as a result of their view that CEO Dr. Hector Ruiz merits a fresh look at AMD as more than a mere trade on Q1 outlook. Firm also believes that the Feb. 4 board meeting that will place Founder and Exec Chairman Jerry Sanders for reelection will be a critical issue for shareholders this April at the shareholders meeting
Can someone explain the part I put in bold to me? Why would that matter to the share price? To the company´s business outlook? Or at all? What does that have to do with upping the price target? I don´t see any significance in that board meeting/reelection thing. I´d personally be happy if they finally canned Jerry, but apart from that, I don´t get it. It´s not like they´ll sell more CPUs or execute better just because he stays/goes.
Of course, chances of a rising stock price tomorrow are pretty low with this kind of runup.
Any data to back up this claim? I can imagine arguments both for and against (as well as no correlation)... it would be interesting to see what the data actually show. Probably need to look at things as a % of prior runup.
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