AMD price target raised to $170 from $100 at Argus

Argus raised the firm’s price target on AMD (AMD) to $170 from $100 and keeps a Buy rating on the shares. The analyst states that the company’s share gains in client and in data center CPUs, market leadership in console gaming, and the much enhanced embedded business position AMD for long-term growth exceeding growth of the market and the peer group. AMD continues to release innovative new products as it expands from PC, data center and gaming to AI workloads in the hyperscale space, and its share price does not fully reflect AMD’s long-term revenue and margin growth potential, along with ongoing market share gains at Intel’s (INTC) expense, the firm added.