The fourth-quarter earnings slate will give its last significant gasp this week, with stocks including Nike Inc (NYSE:NKE) and FedEx Corporation (NYSE:FDX) reporting their most recent results. However, the biggest news on Monday is far less earnings-focused, and more on early-morning developments and weekend news.
Specifically, Advanced Micro Devices, Inc. (NASDAQ:AMD) and Shake Shack Inc (NYSE:SHAK) are up following positive notes from an analyst, and Deutsche Bank AG (USA) (NYSE:DB) is made a move to shore up its finances.
Here’s what you need to know as we head into Monday’s trade:
Advanced Micro Devices, Inc. (AMD)
AMD shares are getting some help this morning thanks to an analyst price target hike on optimism about the company’s Ryzen CPU rollout.
Jefferies analyst Mark Lipacis put out a bullish note Monday that said:
“We increase our sales estimates with better visibility into AMD’s Ryzen 7 high-performance and Ryzen 5 power-performance desktop processor launch. We think AMD’s ability to price between-the-seams while achieving competitive performance will result in meaningful share gains from INTC in the Desktop, Server, and Notebook markets starting in 2017. We raise our estimates and remain 700bps/17c ahead of sales/EPS consensus for 2017.”
Lipacis raised the firm’s price target on AMD stock from $13 to $16, which represents another 19% or so more upside from here. Jefferies also adjusted its expectations for 2017 and 2018 earnings; Jefferies took down its FY 2017 EPS estimate from 32 cents per share to 25 cents, but bumped up FY 2018 profit estimates from 41 cents per share to 44 cents.
Jefferies also maintained its “buy” rating on shares.
AMD stock is up about 2% this morning, helping cut into an 11% decline since late February.
Shake Shack Inc (SHAK)
SHAK shares are also up this morning on good news from the analyst community — in this case, an upgrade, but with a little bit of a backhand.
Wedbush’s Nick Setyan upgraded Shake Shack from “Underperform” to “Neutral” while tacking on a $33 price target — up from $30, and only slightly higher than its Friday close at $32.45. However, Wedbush did pull SHAK shares from its “Best Ideas” list.