Goldman Sachs initiates coverage on AMD (NASDAQ: AMD) with a Sell rating and a price target of $11.00.

Analyst Toshiya Hari sees unfavorable risk/reward even after the company improved execution under new CEO Lisa Su. Hari believes a possible improvement to fundamentals is already priced into the stock. Hari sees strong competitive threats from Intel (NASDAQ: INTC) and Nvidia (NASDAQ: NVDA).

FY 2017 EPS estimate is for $0.02, FY 2018 EPS estimate is for $0.14 and FY 2019 EPS estimate is for $0.48.

For an analyst ratings summary and ratings history on AMD click here. For more ratings news on AMD click here.

Shares of AMD closed at $14.17 yesterday.