David Stahl
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Morgan Stanley Downgrades AMD, Says 2018 Upside Looks Less Likely

Wall Street's mostly negative reaction to Advanced Micro Devices, Inc. (NASDAQ: AMD) continued Monday as analysts at Morgan Stanley turned bearish on the stock. The firm's Joseph Mooredowngraded AMD's stock rating from Equal-Weight to Underweight with a price target slashed from $11 to $8.

Heading into AMD's earnings report last week, an Equal-Weight rating was justified under the belief the company would report numbers good enough to justify the valuation, Moore said in the downgrade report. The company's earnings report showed that the fundamental outlook isn't as robust as previously thought. Source