Mizuho analyst Vijay Rakesh upgraded AMD (AMD) to Buy from Neutral with a price target of $55, up from $38. The shares closed Wednesday down 42c to $47.83. The 2020 server market could be stronger than current “muted” consensus expectations, Rakesh tells investors in a research note. Further, many of the “aggressive” Intel (INTC) price cuts are in the rear-view mirror and channel checks indicate potential Intel delays in the 10nm Ice Lake single socket server market, adds the analyst. As a result, Rakesh sees opportunity for AMD server share gains into the second half of 2020. While admitting he missed AMD’s rally in Q4, the analyst sees more upside to consensus estimates “with some headwinds retreating.”