AMD: stock no longer best pick for Wedbush
(CercleFinance.com) - The US microprocessor manufacturer AMD closed down 1% in New York on Thursday after being removed from Wedbush's best pick list.
In its morning comments, the broker said that it has removed the stock from its list of best investment ideas, citing its strict "discipline" in terms of stock prices.
AMD shares have fallen over 23% over the past month, compared to an 8% decline in the S&P 500 index, in part due to disappointing quarterly results.
Analysts at Mizuho have reduced their target price for the stock from 140 dollars to 125 dollars.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In its morning comments, the broker said that it has removed the stock from its list of best investment ideas, citing its strict "discipline" in terms of stock prices.
AMD shares have fallen over 23% over the past month, compared to an 8% decline in the S&P 500 index, in part due to disappointing quarterly results.
Analysts at Mizuho have reduced their target price for the stock from 140 dollars to 125 dollars.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.