Deutsche Bank analyst Ross Seymore lowered the price target on Advanced Micro Devices Inc to $125 from $140 and kept a Hold rating on the shares. The price target implied an upside of 17 percent.
The re-rating followed AMD’s acquisition of Pensando for $1.9 billion.
Pensando offers a fully-programmable, high-performance packet processor and software stack already in use across cloud and enterprise customers.
The analyst notes such an offering will augment AMD’s ability to deliver the performance and capabilities required for optimized workloads across the data center.
KeyBanc also hailed the deal.
By Anusuya Lahiri
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