Credit Suisse analyst John Pitzer has a Neutral rating and $33 price target.
Management is setting a “low-ish” bar ahead of its March 5 Analyst Day, Pitzer said. He also reiterated his bullish view on the compute total addressable market accelerating.
The analyst attributed his Neutral rating to a valuation that he sees as more fair than cheap. AMD faces risks from macroeconomic uncertainty, including China trade issue and coronavirus scare, and the second-half competitive dynamics as Intel resolves supply shortages.
Wells Fargo analyst Aaron Rakers maintained an Overweight rating and $55 price target.
Rakers said AMD delivered net-negative results. The analyst thinks AMD needs to provide investors with greater revenue transparency — more quantifiable details on server and data center GPU results.
Moving ahead, Wells Fargo sees the momentum for the second generation EPYC Rome, PC share gains in the wake of alleviation in Intel’s CPU shortages, and data center GPU market opportunity as key topics that would be of interest to investors.