- Deutsche Bank analyst Ross Seymore lowered the price target on Advanced Micro Devices Inc AMD to $125 from $140 and kept a Hold rating on the shares. The price target implied an upside of 17%.
- The re-rating followed AMD's acquisition of Pensando for $1.9 billion.
- Pensando offers a fully-programmable, high-performance packet processor and software stack already in use across cloud and enterprise customers.
- The analyst notes such an offering will augment AMD's ability to deliver the performance and capabilities required for optimized workloads across the data center.
- KeyBanc also hailed the deal.
- Price Action: AMD shares closed lower by 3.36% at $106.82 on Tuesday.
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