AMD price target raised to $137 from $97 at Goldman Sachs

Goldman Sachs raised the firm’s price target on AMD (AMD) to $137 from $97 and keeps a Buy rating on the shares after the company’s Data Center & AI Technology Premiere event. The analyst states that the firm was encouraged by AMD customers’ endorsements and continues to model share gains for AMD in server CPUs primarily at the expense of Intel (INTC), adding that AMD should grow into a credible second supplier over the medium- to long-run.