AMD price target raised to $235 from $200 at Barclays

Barclays analyst Tom O’Malley raised the firm’s price target on AMD to $235 from $200 and keeps an Overweight rating on the shares. December client MPU shipments came in stronger than expected, but is leading to a meaningful reset in March, the analyst tells investors in a research note. For the full year the firm sees mid-single-digit growth in client MPU and mid-single-digit declines in server, with AMD continuing to gain share in both markets.