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RBC RAISES PRICE TARGET OF AMD, STOCK RISES - Capital Street FX

24-Dec
20:10 IST

Advanced Micro Devices’ stock is currently trading at 45.97-higher by 1.12% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 1.41%. The stock has pared some of its earlier gains after the opening bell.

Investment bank RBC Capital Markets raised its price target on stocks of Advanced Micro Devices to $53 a share from $50 per share. The investment bank, however, reiterated an Outperform rating on stocks of the chipmaker. RBC Capital Markets’ price target represents an upside of about 17% from the share’s previous closing price of $45.46.

The investment bank increased its price-target on stocks of Advanced Micro Devices citing improved business from both data-center and gaming customers. RBC Capital Markets expects the chipmaker to earn $1.30 per share in 2020. It was higher than its previous estimate of $1.24. The investment bank now expects AMD to earn $1.74 per share in 2021, up from a previous forecast of $1.68.

On the technical front, the RSI is currently at 77.10% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the upper band of the Bollinger Bands and is heading upwards.

 

TRADE SUGGESTION- LIMIT BUY AT 45.92 TAKE PROFIT AT 46.52 STOP LOSS AT 45.62

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