AMD price target lowered to $110 from $115 at Deutsche Bank

Deutsche Bank lowered the firm’s price target on AMD to $110 from $115 and keeps a Hold rating on the shares. The company “delivered a decidedly mixed print,” executing strongly to its artificial intelligence aspirations in the data center but suffering cyclically in embedded/gaming, the analyst tells investors in a research note. The firm believes AMD’s December 6 event should be a relatively positive catalyst in the near-term. but maintains a Hold rating until the cyclical headwinds lessen or the stock’s valuation risk/reward becomes more appealing.