Shares of AMD have risen about 5% in the pre-market session after Goldman Sachs announced that it has included the chipmaker on its coveted “Conviction Buy” list. Goldman Sachs analyst Toshiya Hari has moved AMD’s stock from the “Neutral” category to the “Buy” category, raising the price target from $ 84 to $ 96.
This analyst has made a very positive assessment of AMD, highlighting a very robust first half of the year with a remarkable capacity for growth in the PC market. Other variables such as Lenovo’s good results point to a sustainable boom in the PC market, reinforcing AMD’s expansion.
Last week JP Morgan also raised the target price for AMD’s stock from $ 62 to $ 86. In this case, the purchase of Xilinx was favorably valued, with growth potential in areas such as 5G networks or autonomous driving.
AMD’s quarterly results for the last fiscal year to September 30, 2020 have also been good with earnings of $ 2.8 billion with annual growth of 55.6% and improving forecasts by 9.38%. Ryzen processors increased sales offsetting a decrease in graphics card sales. The fourth quarter is expected to show earnings of $ 3 billion.
Come on, it seems that AMD has been doing well lately.