Citi Opens 'Positive Catalyst Watch' On AMD But Keeps $13 Price Target

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Citi analyst Christopher Danely expects continued PC end market strength and Intel's (INTC) data center weakness to provide upside to AMD's (AMD) Q4 earnings and guidance.

As such, he opened a "positive catalyst watch" on AMD shares on expectations the stock to trade up after the earnings call.

However, he maintains Sell rating on the stock with a $13 price target. Danely continues to expect the pricing competition between Intel and AMD to intensity later this year, "which will likely be detrimental for both."

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