Better off betting on a horse
Barclays Capital have given the thumbs down to AMD claiming the company is an underweight. It thinks that the outfit’s share price will fall to $2.00.
AMD current trades at $2.66 so this would mean a significant fall. The financial outfit has updated their ratings on a number of other technology stocks in the last week. Intel will fall from $22.00 a share to $20.00. It did have a lot to say about Cavium Networks which it thinks will rise from $37.00 to $45.00.
Analysts in general have been moaning about AMD. Zacks reiterated a neutral rating in a research note to investors on Thursday, December 20th. They now have a $2.75 price target on the stock. Oppenheimer cut its EPS estimates on Friday. BMO Capital Markets tends to agree that a $2.00 price target on the stock is about right.
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Nick Farrell
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