Ascendiant coverage launch gives a lift to AMD

As part of a chip sector coverage launch, Ascendiant Capital's Cody Acree (previously with Williams Financial) has started AMD (AMD +3.5%) with an Outperform and $5 PT.

Acree: "While we are not expecting any singular dramatic near-term catalyst, we do see the company working through a methodic restructuring and repositioning that has already reduced spending and earned significant [design] wins."

Acree notes AMD's restructuring has lowered headcount by 15% and opex by 26%, while helping the chipmaker once more be cash flow positive. He also expects new APU launches to allow AMD to "regain moderate share" in the consumer PC space.

Previous: AMD jumps following CEO's CNBC talk

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Comments (6)
  • kjurden
    , contributor
    Comments (1918) | Send Message
    One of the many analyst's I expect to see revise their PT/PP and list AMD's stock to "Outperform".




    11 Mar 2014, 01:40 PM Reply Like
  • 3D Investing
    , contributor
    Comments (1552) | Send Message
    Hard resistance at $4. One more analyst rating increase and it's going to break that $4 limit.
    11 Mar 2014, 01:54 PM Reply Like
  • ATX
    , contributor
    Comments (130) | Send Message
    hard resistance? more like manipulation, if you look at level2, you will see many 100share blocks pushing the price down from $4 to 3.80something, then the weak hands holding 2000~10,000 shares starts to sell too because they couldn't see those level2 100shares blocks tricking them, it only takes 100shares to push price down, it only takes 100shares to make people sell thousands of shares, people with access to level2 would hold their shares tight.
    11 Mar 2014, 04:21 PM Reply Like
  • kjurden
    , contributor
    Comments (1918) | Send Message
    @ATX...I whole heartedly agree with you on the manipulation. It's no secret what the Hedge Funds and Wall Street Money Mangers have been doing with this stock. I can only hope that, they get caught with their pants down here before long..And it's going to happen.
    As more and more OEM's, commercial clients, and private investors begin to see the "New and Improved AMD" they're finding that AMD is in a unique position to begin regaining market share in PC's, Notebooks, mobile, graphics and Micro Server solutions. You have only to do a small amount of D&D by listening to the third party testing and programming development folks to get the truth about AMD's performance vs. coast that AMD's SP is going to be at least 2X and very possibly 3-4X higher by Q4 2014.


    Long AMD
    11 Mar 2014, 10:56 PM Reply Like
  • Wilsonjd
    , contributor
    Comments (5) | Send Message
    wedbush reiterates outperform rating with a 5.00 price target.

    11 Mar 2014, 06:14 PM Reply Like
  • allen.bradley
    , contributor
    Comment (1) | Send Message
    What is AMD doing in the area of SDN (Software Defined Networking)? I am interested because Intel is in the process of entering this market with Intel Open Switch Spec.
    12 Mar 2014, 04:57 PM Reply Like
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