AMD price target lowered to $140 from $165 at Wells Fargo

Wells Fargo analyst Aaron Rakers lowered the firm’s price target on AMD (AMD) to $140 from $165 and keeps an Overweight rating on the shares. The firm thinks an anticipated tempered Q1 2025 guide and/or expectation reset was starting to be viewed as a positive set-up. However, flat first half of 2025 vs. second half of 2025 Data Center guide likely places AMD in a “prove-it” position.