Lisa Su, CEO, AMD

Scott Mlyn | CNBC

Advanced Micro Devices was a big winner of 2019, and several upcoming product launches has it poised for another big year, according to Nomura Instinet.

Analysts at Nomura Instinet just raised their price target on the chipmaker’s stock to $58 per share from $40. The new target represents at 26% premium over the latest closing price for the stock. Shares of AMD were up more than 2% in premarket trading on Thursday.

In a note to clients on Thursday, Nomura Instinet maintained its buy rating on the stock, which had the biggest gain in the S&P 500 last year — nearly 150%.

Originally published at CNBC

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