TD Cowen analyst Matthew Ramsay raised the firm’s price target on AMD to $135 from $115 and keeps an Outperform rating on the shares. The firm believes investors are prepared for a mixed Q2/Q3 on revenue and margins as the macro remains challenging. The firm adjusted 2H estimates to be more 4Q-weighted. and they believe investor focus post earnings will again turn longer-term to AMD’s strong Datacenter prospects, including a crystallizing AI strategy supported by stronger HW/SW roadmaps.
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