AMD price target lowered to $135 from $155 at BofA

BofA lowered the firm’s price target on AMD (AMD) to $135 from $155 and keeps a Neutral rating on the shares after the company reported an in-line Q4 with “surprising” PC strength offsetting data center weakness relative to consensus. Q1 sales modestly better on back of better consumer PC/gaming, in contrast to Intel’s (INTC) weaker Q1 outlook impacted by its greater potential exposure to tariff-related pull-ins from customers, the analyst tells investors. However, AMD has not yet managed to articulate how it can carve an important niche versus Nvidia’s (NVDA) dominance and custom ASIC chip’s growing importance in AI silicon, the analyst contends.