AMD price target raised to $88 from $80 at Susquehanna

Susquehanna analyst Christopher Rolland raised the firm’s price target on AMD to $88 from $80 and keeps a Positive rating on the shares. The analyst previewed the quarter and said the firm expects 4Q results in the lower half of the guidance range, with a disappointing 1Q guide to boot. The firm said while AMD is not immune to an enterprise slowdown, the performance gap of Genoa over Sapphire Rapids should allow AMD to overcome a softer backdrop.