FBR Capital Upgrades AMD To Outperform, Raises PT To $12

FBR Capital Markets has published a research report on Advanced Micro Devices AMD and has upgraded the company from Market Perform to Outperform. In the report, FBR Capital writes, "[Our] positive stance on AMD is largely tactical in nature and less of a long-term investment until these competitive dynamics can be further assessed under AMD's new foundry model. We still have concerns about AMD's lack of strategy (tablets and mobile) and leadership, though a new CEO hire could drive shares higher, depending upon the person. " FBR Capital Markets has also raised the price target from $10 to $12. Advanced Micro Devices closed yesterday at $7.50.