- Analysts remain optimistic on Advanced Micro Devices Inc (NASDAQ:AMD) post Q4 beat.
- Keybanc analyst John Vinh maintained AMD with an Overweight and raised the price target from $155 to $165 (41.3% upside).
- Summit Insights analyst KinNgai Chan reiterated his Hold rating on AMD after its better than expected Q4 results.
- The analyst notes that the company will continue to outperform near-term expectations through the first half of the year due to market share gains against Intel Corp (NASDAQ:INTC) in both the PC client and the data center markets.
- Related Content: AMD Stock Rallies On Q4 Beat, Positive Outlook: Data Center, Gaming Revenues Shine
- However, those gains will moderate toward the end of the first half as Intel refreshes its product line.
- Chan's industry checks indicate a high probability of increased price competition in the CPU market in the second half of the year.
- Price Action: AMD shares traded higher by 11.3% at $130.02 in the premarket session on the last check Wednesday.
