Goldman Sachs analyst Toshiya Hari upgraded AMD (AMD) to Buy from Neutral with a price target of $96, up from $84, and added the shares to the firm's Conviction List.
The 17% pullback in the stock since the September highs presents a "compelling opportunity" to participate in AMD's "multi-year share gain and margin expansion story," Hari tells investors in a research note.
The analyst thinks shares gains across the personal computer and server CPU markets, gross margin expansion, and operating expenditure leverage will drive above-consensus earnings growth. Hari also reiterates a Sell rating on Intel (INTC) with a price target of $38, down from $46.
Comments
Log in or sign up to join the conversation.