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AMD stock rises after analyst upgrade

Advanced Micro Devices Inc. shares AMD, +5.12% are up 8.4% in premarket trading Friday after Northland Capital Markets analyst Gus Richard upgraded the stock to outperform from market perform while raising his price target on the shares to $52.50 from $45. Though he trimmed his estimates for the current calendar year, he wrote that "a shift in consumer behavior may benefit game console sales in 2H and we note solid demand in the data-center market." Richard is also upbeat about AMD's positioning relative to rival Intel Corp. INTC, +8.18%. "AMD is a node and half ahead of Intel which in of itself drives product leadership," he wrote. "Its choices have driven lower manufacturing cost and higher performance relative to Intel." He turned bullish on shares of Teradyne Inc. TER, +3.79% as well in a Friday note to clients, writing that the company "is well-positioned to benefit from increasing semiconductor test intensity, 5G, and the growth in industrial automation." Teradyne shares are up 8.3% in premarket trading Friday. They've lost 27% so far this year, as AMD's stock has dropped 15% and the S&P 500 SPX, -2.92% has fallen 23%.

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