Here’s Why Cowen Sees Notable Upside in AMD

The workers of US' Advances Micro Systems (AMD) displaying a so-called 'wafer' in the company's work in Dresden, Saxony on 17 May 2004. (Norbert Millauer/DDP/AFP via Getty Images)

Cowenanalyst Matthew Ramsay raised the price target on Advanced Micro Devices Inc to $150 from $145 and reiterated an Outperform rating on the shares. The price target implies an upside of 12 percent.

The analyst told investors not to overlook its organic strength despite the deal delay.

He said it shouldn’t distract from what remains one of the best organic growth stories in semis, which is still in the middle innings of its growth.

By Anusuya Lahiri

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