Morgan Stanley analyst Joseph Moore raised the firm’s price target on AMD to $102 from $87 and keeps an Overweight rating on the shares ahead of the company’s report scheduled for Tuesday, May 2. The setup for the quarter is "interesting," as the stock has appreciated 40% year-to-date into "an obvious negative event at least as far as data center is concerned" and 90% of the firm’s conversations are "appearing to lean negative," the analyst tells investors. However, AMD is pointing to relevant exposure to AI "for really the first time in the company’s history around MI300," and "anyone with AI exposure has rallied materially," the analyst added.
Published first on TheFly
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