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Fly News Breaks for February 11, 2020
Feb 11, 2020 | 08:37 EDT
RBC Capital analyst Mitch Steves raised his price target on AMD to $63 and kept his Outperform rating, citing its upcoming Analyst Day on March 5th as a "notable" potential catalyst. The analyst expects the company's financial targets to include gross margins in high 40s and the implied expected FY21 EPS "well north" of $2 per share, along with a forecast for a path to 30% market share in CPU servers. Steves further raises his FY21 EPS view by 35c to $2.10, which he states is one of the highest estimates on the Street.