Daiwa downgraded AMD (AMD) to Outperform from Buy with a price target of $500, up from $250. The firm cites valuation for the downgrade with the shares up 150% over the past 60 days. Daiwa views AMD’s Q1 results and Q2 outlook as “very good,” but thinks the stock’s appreciation could moderate over the near-term given the recent appreciation. AMD in premarket trading is up 2% to $459.25.
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