Advanced Micro Devices got a rating upgrade from Goldman Sachs.
Goldman analysts boosted the rating on the semiconductor maker’s shares to buy from neutral. They added them to Goldman’s Conviction List.
Goldman analysts lifted their share-price target to $96 from $84.
The analyst cited share gains across the personal-computer and server central-processing-unit markets, gross-margin expansion, and operational expenditure leverage, driving above-consensus earnings growth.
“The recent correction in the stock … presents a compelling opportunity to participate in what we expect to be a multi-year share gain and margin expansion story,” the analysts wrote.