- The stock price of Advanced Micro Devices, Inc. (NASDAQ: AMD) has received a price target increase from $93 to $102 by Mizuho. These are the details.
The stock price of Advanced Micro Devices, Inc. (NASDAQ: AMD) has received a price target increase from $93 to $102 by Mizuho. And Mizuho analyst Vijay Rakesh is maintaining a “Buy” rating on AMD shares.
Rakesh said that he is bullish on the semiconductor industry as a whole going into the first half of 2021. And Rakesh said he is seeing strong year-over-year momentum. The industry is also expected to see “tailwinds from a supportive fundamental and macroeconomic backdrop,” explained Rakesh in the report.
And in the first half of 2021, there is expected to be a continued rebound in the global automotive, industrial, handset, and memory industry. Some of the other companies that Rakesh recommended include Allegro MicroSystems, Broadcom, Micron, Nvidia, NXP Semiconductors, ON Semiconductor, Qualcomm, and Skyworks.
Disclosure: I have a small AMD position in my stock portfolio.