AMD (AMD) PT Lowered to $176 at Citi

Citi analyst Christopher Danely lowered the price target on AMD (NASDAQ: AMD) to $176.00 (from $192.00) while maintaining a Buy rating.

The analyst comments "Yesterday after the close, AMD reported decent results and guided above Consensus driven by the MI300 ramp. The company also raised its MI300 forecast from over $3.5 billion to over $4.0 billion in 2024. Although we are trimming estimates due to downside from its embedded and gaming segments (combined 32% of 1Q24 sales), we continue to expect upside over the summer and reiterate our Buy rating on AMD."

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