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Barclays downgrades AMD; shares down 3.4% premarket

Published 07/18/2017, 08:06 AM
© Reuters.  Barclays downgrades AMD; shares down 3.4% premarket
BARC
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AMD
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  • Barclays (LON:BARC) downgrades Advanced Micro Devices (NASDAQ:AMD) from Equal Weight to Underweight with a $9 price target.
  • Analyst Blayne Curtis doesn’t think AMD’s products can achieve enough traction to merit the stock’s current valuation.
  • Curtis sees limited upsides following the launch of AMD’s Epyc or Intel’s Purley.
  • Analyst reiterates guidance: FY17 EPS at $0.08 and FY18 EPS at $0.33.
  • Source: StreetInsider.
  • AMD shares are down 3.41% premarket.
  • Now read: AMD: An Epyc Wild Card

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