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Following a slew of product announcements in recent weeks from Advanced Micro Devices (AMD), which competes with Intel (INTC) selling “x86” chips for PCs and servers, Jefferies & Co’s Mark Lipacis today reiterates a Buy rating on the stock, and raises his price target to $16 from $13, after concluding the company can take share from Intel.

“In total, we estimate Zen could represent incremental sales between $1.1 billion and $4.6 billion” for AMD, writes Lipacis, based on a variety of scenarios in which it captures 5%, 10%, or 15% of each of server, desktop and notebook computer markets.

AMD’s new parts mean “competition returns to the performance market” after years of dominance by Intel.

Lipacis is one of two upbeat comments on AMD today: Susquehanna Financial Group’s Christopher Rolland, although he has a Neutral rating, raised his target on AMD to $12 from $9, after concluding the availability of new product will help AMD’s Q2 results.

Jefferies’s Lipacis raises his estimate for this year to $5.06 billion in revenue from what had been $5.03 billion, although he trimmed his EPS estimate to 25 cents from 32 previously. However, he’s still 17 cents higher than Street consensus for EPS, he notes. For 2018, he has the company making $5.588 billion in revenue and 44 cents EPS, up from $5.52 billion and 41 cents.

AMD’s new gear is just getting out the door, notes Lipacis: the announced “Ryzen 7” parts for the desktop became available this month; a “Ryzen 5” becomes available next month, for desktop; he expects a lower-cost “Ryzen 3” for desktop to be announced soon; and chips for server and for notebook computers come later in the year.

Overall, he writes, his “checks” suggest that there’s been "a positive reception for Zen in the enthusiast DT channel and the Asian Cloud Server market.”

Lipacis also thinks that AMD’s gross profit margin will continue to rise: it was up 930 basis points from Q3 of 2015, he notes, through the latest reported quarter. It can get to 33% this quarter, he thinks, and to “the low end of its long term target range of 36% to 40%” by the end of 2017, he thinks.

Susquehanna’s Rolland writes that "the Street’s +5% QOQ estimate for 2Q17” for AMD "is very beatable on a bona fide Ryzen roll-out."

In addition, he’s looking to AMD to take back some share in notebooks in the latter part of this year, with the new parts:

We estimate that AMD has just ~5% model share in laptops on the market in 1Q17, slightly worse than prior quarters (between 6% and 8% share). The company ceded some share to Intel at Lenovo and Dell, while it remained relatively flat at HP and ASUS, and gained on Intel at Acer. We expect that Ryzen will come to laptops in the second half of 2017 and should help the company regain share.

AMD shares today are up 90 cents, or 7%, at $14.39.