Advanced Micro Devices shares are trading higher after New Street Research upgraded the stock from Neutral to Buy and announced a $215 price target.
Portfolio Pulse from Benzinga Newsdesk
Shares of Advanced Micro Devices (AMD) are trading higher following an upgrade from Neutral to Buy by New Street Research, which also set a price target of $215 for the stock.
January 24, 2024 | 5:06 pm
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POSITIVE IMPACT
Advanced Micro Devices (AMD) stock is positively impacted by an analyst upgrade from New Street Research, changing its rating to Buy and setting a price target of $215.
Analyst upgrades typically lead to a positive short-term reaction in the stock market as they suggest a bullish outlook on the company's future performance. The significant increase in the price target to $215 implies a strong conviction in AMD's growth potential, which can instill investor confidence and drive up the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100