- Cowen reiterates an Outperform rating on AMD (NASDAQ:AMD) and raises the price target from $40 to $42.
- The firm cites a meeting with CTO Mark Papermaster and the unveiling of AMD's new server processor that put the company in strong competition with Intel.
- Cowen thinks AMD's consistent product execution across PC, GPU, and server can deliver upside to gross margin targets and material upside to the FY20 targets.
- AMD shares are down 0.4% pre-market to $34.04. The company has a Hold average Sell Side rating.
AMD target boosted for product execution
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| Symbol | Last Price | % Chg |
|---|---|---|
| AMD | - | - |
| Advanced Micro Devices, Inc. | ||