Advanced Micro Devices (AMD) Stock Price Target Raised at MKM Partners

Advanced Micro Devices (AMD) stock price target was increased to $6.30 from $5 at MKM Partners this morning
By Natalie Walters ,

NEW YORK (TheStreet) -- Advanced Micro Devices (AMD) - Get Report price target was raised to $6.30 from $5 at MKM Partners this morning, ahead of the company's fiscal 2016 second quarter results expected to be reported after Thursday's market close. 

The firm maintained a "buy" rating on the stock. 

The future for Advanced Micro Devices looks favorable because of "a series of new product ramps that close the gap vs. the competition," as well as "steadily improving" PC demand, according to the analyst note.

MKM expects the Sunnyvale, CA-based semiconductor company to report fiscal 2016 second quarter earnings of $0.08, in line with Wall Street's estimates. 

Shares of Advanced Micro Devices are down 1.09% to $5.45 in mid-morning trading. 

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

We rate ADVANCED MICRO DEVICES as a Sell with a ratings score of D. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The area that we feel has been the company's primary weakness has been its declining revenues.

You can view the full analysis from the report here: AMD

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