AMD price target raised to $145 from $110 at Raymond James

Raymond James analyst Srini Pajjuri raised the firm’s price target on AMD to $145 from $110. AMD’s DCAI Technology Premier event was largely in line with expectations, with the company launching a new CPU for cloud-native workloads and highlighting performance/TCO advantages of its mainstream processors, the analyst tells investors in a research note. The firm believes AMD is working with multiple tier 1 customers and expects initial AI revenue from MI300 in 4Q23.