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    Home » AMD can surge almost 50% after large pullback this 12 months, Piper Sandler says in improve
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    AMD can surge almost 50% after large pullback this 12 months, Piper Sandler says in improve

    adminBy adminMay 17, 2022No Comments2 Mins Read
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    AMD can surge nearly 50% after big pullback this year, Piper Sandler says in upgrade
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    Advanced Micro Devices shares look engaging after a giant pullback this 12 months, in line with Piper Sandler. The chip inventory is down 34.5% this 12 months — underperforming the S & P 500’s 15.9% decline this 12 months — and off its November highs by 42.7%. Piper Sandler upgraded AMD to an chubby ranking from impartial. The agency additionally boosted its value goal on the inventory to $140 from $98, implying 48.6% upside from Monday’s shut. “There are two old sayings in the investment world: 1) ‘You cannot time the market, so do not try’ and 2) ‘Buy good companies when they are down,'” Piper Sandler’s Harsh Kumar stated in a notice Tuesday. “We are using the recent price action to get constructive on the name again,” Kumar stated of AMD. Piper Sandler believes AMD’s core companies are performing effectively and the corporate advantages from developments within the trade. The agency stated its authentic thesis of a slowing PC market has not come to fruition. “We feel the weakness in the broader PC market is mostly coming from the lower-end of the market. As a result, AMD’s push into the commercial market came at the right time,” Kumar stated. Analysts anticipate AMD to develop its management within the PC area, notably on the industrial aspect. “On the PC front, AMD is better positioned than its primary competitor given its strong push in the commercial market,” Kumar stated. Piper Sandler believes AMD’s investor day in early June could possibly be a catalyst for the inventory. —CNBC’s Michael Bloom contributed reporting.

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