Shares of chipmaker Advanced Micro Devices (NASDAQ: AMD) were climbing today after an analyst initiated coverage of the company and put a buy rating on its stock yesterday.
The semiconductor stock jumped by 4.8% today and was up by 2.8% as of 2:02 p.m. ET.
Stifel analyst Ruben Roy started coverage of AMD yesterday and put a buy rating on the stock with a $122 price target. Part of the analyst's optimism for the company comes from AMD's product lineup, with Roy noting that the company has a "strong product roadmap."
Source Fool.com