AMD price target raised to $115 from $100 at Raymond James

Raymond James analyst Srini Pajjuri raised the firm’s price target on AMD to $115 from $100 and keeps a Strong Buy rating on the shares, citing early signs of PC recovery and continued FPGA strength. The firm believes the current consensus expectation for -7%/+2% q/q growth in Q1/Q2 for AMD’s Data Center segment is reasonable, and expects AMD’s PC revenue to bottom in Q1, the analyst tells investors in a research note.