AMD's $600 Target Isn't Really About AMD

BNP Paribas issued what it described as one of Wall Street’s most aggressive new price targets for AMD, but warned investors not to read it as a direct bullish call on the chipmaker’s next earnings report. The note appears aimed at shaping positioning/expectations around the stock rather than signaling an imminent earnings-driven catalyst.

Analysis

BNP Paribas issued what it described as one of Wall Street’s most aggressive new price targets for AMD, but warned investors not to read it as a direct bullish call on the chipmaker’s next earnings report. The note appears aimed at shaping positioning/expectations around the stock rather than signaling an imminent earnings-driven catalyst.