AMD price target raised to $84 from $79 at Truist

Truist analyst William Stein raised the firm’s price target on AMD (AMD) to $84 from $79 but keeps a Hold rating on the shares. The company’s weaker Q2 guidance and rising AI investments are elevating the firm’s concerns, even though its consolidated revenue beat expectations by 60bps thanks to upside in the Gaming and Embedded segments, the analyst tells investors in a research note. Truist adds that it continues to prefer "*the* AI" company, Nvidia (NVDA).