Advanced Micro Devices Receives Price Target of USD 35

Advanced Micro Devices Inc. (NASDAQ: AMD) has a new highest target price of USD 35 from USD 26 by Bank of America Merrill Lynch, citing the chipmaker’s process manufacturing is beating Intel Corp. (NASDAQ: INTL) to market.

Bank of America Merrill Lynch even raised its price target at USD 35, which is the highest target mooted by analysts who cover AMD on Wall Street. AMD climbs over 2% on Wednesday. The move follows an 11.5% surge on Tuesday after Jefferies and Cowen raised their targets to match the previous Street high of USD30 from USD 22 with a reiterated “buy” rating. Jefferies estimates AMD server chip market share in 2019 will increase to 12%.

“Intel’s delayed 10nm roadmap — originally targeted for 2016 launch in client and now pushed to 2H19 — opens opportunities for AMD across the business,” wrote Cowen’s Matthew D. Ramsay in a report released on Monday. 

AMD, the semiconductor manufacturer, is supported by bullish notes from the street highlighting the company’s manufacturing technological advantage over Intel. Many analysts estimate that AMD will have a more advanced chip than Intel, making a “foundational shift in competitive dynamics.”

AMD is significantly outperforming the market in 2018. Compared to S&P 500’s 8.3% gain this year, AMD shares are surge nearly 173% year-to-date return. For the full year, AMD’s top line is expected to hit a much more expressive 25.5% surge to USD 6.69 Billion.

1 Comment
  1. Randall Young 3 weeks ago
    Reply

    the @AMD athlon days are back.

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