AMD price target raised to $140 from $90 at Mizuho

Mizuho raised the firm’s price target on AMD to $140 from $90 and keeps a Buy rating on the shares following the company’s data center and artificial intelligence event. The analyst increased estimates to reflect the MI300A/X and Instinct ramps, which the firm assumes adds $1.1B of incremental artificial intelligence revenue. The analyst sees AMD as the “next AI play” into 2024 .