AMD’s Stock Momentum Keeps Going in New Year

Investing.com – Advanced Micro Devices (NASDAQ:) started 2020 the same way it spent 2019, with shares rallying.

The stock rose 4.4% Thursday following a price target boost from Nomura.

Nomura analyst David Wong reiterated his buy rating on the stock and boosted its price target to $58 per share from $40.

“We expect AMD to continue strengthening its competitive position in 2020 through a steady stream of new product introductions on 7nm and 7nm+ technologies,” Wong wrote.

AMD (NASDAQ:) gained 148% last year, making it the best-performing stock in the S&P.

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