AMD gets thumbs up from Wells Fargo

Fabless chipmaker AMD has been given the thumbs up by the former pony express courier Wells Fargo.

Now turned bankers and analysts, Wells Fargo has claimed that there is gold in AMD’s hills and claimed the company will outperform expectations this year.

In a report, Wells Fargo said the chipmaker’s shares will be worth $7. Given that you can pick up a second hand one on Ebay for $2.60 this a big job. It is also better than the $5 that Wells Fargo predicted AMD would be worth a few months ago.

But, according to ZolmaxWells Fargo is a lone voice on AMD being a success story. Analysts at Credit Agricole reiterated an underperform rating and think that a share will only be worth $2.75.

Zacks think that the shares will be worth $2.50 price target on the stock.

Pessimists at BMO Capital Markets covered themselves with sack cloth and ashes and warned that the AMD shares will be worth $2.00 or an exchange for a used set of steak knives.

What looks fairly obvious is that AMD investors might as well flip a coin or ask the cat rather than talk to analysts about the firm’s chances.