AMD Rises After Nomura Upgrade on Launch of New CPUs, GPUs
Analyst David Wong is increasingly confident of the chipmaker's ability to snare market share and boost revenue.
AMD
Nomura Instinet raised its target price on Advanced Micro Devices (AMD) - Get Report to $37 from $33 after the chipmaker said some new products would be available worldwide.
Analyst David Wong in New York has a buy rating on the shares, which closed up 3.5% at $33.15 on Tuesday. That gives the shares about 13% potential upside to his target.
The Santa Clara, Calif., company on July 7 disclosed the availability of the new Ryzen desktop central processing units and Navi graphics processing units.
"As AMD steadily executes on its product road map, our confidence grows in the company's ability to continue driving market share gains and revenue growth" through 2020, the analyst wrote in a report.
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