Loop starts AMD with Buy on share expansion opportunities

Loop Capital initiated coverage of AMD (AMD) with a Buy rating and $175 price target The shares have traded more in line with peers with dominant exposure to mature end markets like PCs, smartphones, and industrial, the analyst tells investors in a research note. Loop believes the shares should more accurately reflect “some degree of success” in accelerated computing and AMD’s “idiosyncratic” share expansion opportunities in general purpose compute within the PC and general server markets. The says the latter has become more “front-and-center” in recent months given the troubles at Intel (INTC).