Citigroup (NYSE:C) Gets Bold with AMD (NYSE:AMD), Raises Far Above Consensus

Citigroup (NYSE:C) boosted their EPS estimate for 2011 on Advanced Micro Devices (NYSE:AMD), increasing it far above consensus.

Citi also added them to their Top Picks Live list, and raised their price target on them as well.

The change comes from Citi's outlook for the MPU market, which they see AMD gaining market share in. The Street sees the opposite, providing for some interesting theater in 2011.

For revenue, Citi sees AMD's growth rate coming in at $7.1 percent, far beyond the minuscule 0.58 the consensus embraces. EPS estimate for 2011 was raised to $0.91, over double the consensus of $0.44.

AMD was trading at $8.44, up $0.26, or 3.18 percent, as of 12:18 PM EST. Citi has a price target of $12.50 on them, increasing it from the prior $9.