AMD price target raised to $160 from $150 at KeyBanc

KeyBanc analyst John Vinh raised the firm’s price target on AMD to $160 from $150 and keeps an Overweight rating on the shares. While near-term challenges associated with delays of its MI300 AI server and stability issues with its PC NB Ryzen Phoenix could result in near-term risk to estimates, AI server wins give KeyBanc high conviction that AMD could see well over $2B in AI revenues in 2024, the analyst tells investors in a research note.