AMD price target lowered to $140 from $150 at KeyBanc

KeyBanc lowered the firm’s price target on AMD (AMD) to $140 from $150 and keeps an Overweight rating on the shares after the company posted in-line Q4 results and Q1 guidance. However, Data Center missed expectations due to weaker GPU demand, which was offset by strong Client revenues in the quarter, KeyBanc says. With the ramp of MI355 expected midyear, Data Center growth is expected to be second half of the year weighted, as first half of 2025 DC revenues are expected to be equal to the second half of 2024. Despite the disappointment in DC, the firm remains bullish.