Investing.com – Advanced Micro Devices (NASDAQ:AMD) started 2020 the same way it spent 2019, with shares rallying.
The stock rose 4.4% Thursday following a price target boost from Nomura.
Nomura analyst David Wong reiterated his buy rating on the stock and boosted its price target to $58 per share from $40.
“We expect AMD to continue strengthening its competitive position in 2020 through a steady stream of new product introductions on 7nm and 7nm+ technologies,” Wong wrote.
AMD (NASDAQ:AMD) gained 148% last year, making it the best-performing stock in the S&P.