Fly News Breaks for January 16, 2020
MXIM, INTC, MU, NXPI, AMD
Jan 16, 2020 | 09:20 EDT
Barclays analyst Blayne Curtis raised his price target for AMD (AMD) to $50 from $32 ahead of the company's Q4 results while keeping an Equal Weight rating on the shares. The U.S. Semiconductor group is at all-time highs, pushed higher by a combination of improving fundamentals and a trade deal, Curtis tells investors in a research note. He believes memory is the "most positive sounding" sector, aided by both improving demand and pricing trends. With "all this goodness," the analyst finds it too early to call the top on most names but does acknowledge the "air is getting a little thin for some." Curtis favor names with better revenue drivers and relative valuations including NXP Semiconductors (NXPI) and Micron Technology (MU). The analyst keeps an Underweight rating on Intel (INTC) "until there is some sort of capitulation on 10nm and competitive challenges." He also downgraded this morning Maxim Integrated (MXIM) to Underweight from Equal Weight.
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