We get the Bounce on AMD
Goldman Sachs (GS) raised its rating Advanced Micro Devices Inc. (AMD) to 'Neutral' from 'Sell' today. Its the first time Goldman has upgraded AMD in more than 5 years. Mastery believed AMD was ready for a bounce last week and we only had to wait a few trading sessions for it to happen.
Before you go and sell the house and load up on AMD. Take a gander at the mixed bag review from Goldman, its not all roses.
StreetInsider.com has the 411 on the Goldman move:
While off its Sell list, Goldman is far from positive. The gist of their upgrade lies in the fact that the shares have pulled back significantly and their very negative view of its 2H12 results is now shared by the Street. They simply don't see a near-term catalyst for an additional decline.
Goldman said their Neutral rating is "tactical" and they still see Intel (INTC) as being better positioned than AMD in the high-end.
Goldman cut their 12-month price target to $3.50 from $4.
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