AMD price target raised to $120 from $115 at Wedbush

Wedbush raised the firm’s price target on AMD (AMD) to $120 from $115 and keeps an Outperform rating on the shares. The firm says AMD significantly outperformed in its traditional markets, driving upside for the quarter. At the same time, AMD provided a constructive outlook for its GPU business that could/should alleviate investor concerns on that front. Net, AMD’s business is tracking better than expected, supporting Wedbush’s constructive outlook, the firm adds.