Northland Reiterates Outperform Rating on AMD (AMD)

Northland analyst Gus Richard reiterated an Outperform rating and $175.00 price target on AMD (NASDAQ: AMD).

The analyst comments "AMD beat consensus by $0.01 on revenue upside primarily from AI, reaching revenue of over $1B vs our model of $900M. Client revenue was also above our model. Guidance was a little light vs. consensus but above our model. We increase our expectations for AI revenue by $500M and client revenue by $300M, partially offset by a $200M decrease in gaming and a $40M decrease in FPGA revenue. We are increasing CY24 estimates and maintaining PT."

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 $138.44 yesterday.

You May Also Be Interested In

• Citi upgrades AMD to buy with $575 price target ahead of Q4 earnings
• Deutsche Bank Starts Alzchem Group AG (ACT:GR) at Buy
• BofA Securities Starts Avalo Therapeutics Inc. (AVTX) at Buy