AMD price target lowered to $140 from $175 at Loop Capital

Loop Capital lowered the firm’s price target on AMD (AMD) to $140 from $175 but keeps a Buy rating on the shares. The company reported better than expected Q1 results with above consensus guidance, though the firm’s price target reflects lower estimates and lower peer group multiples, the analyst tells investors in a research note. Loop adds that AMD’s Data Center revenue should grow at a healthy double-digit rate despite the revenue headwinds tied to export controls.