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."
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Shares of AMD closed at $138.44 yesterday.