Morgan Stanley lowered the firm’s price target on AMD (AMD) to $169 from $178 and keeps an Equal Weight rating on the shares. Numbers were “essentially in line with consensus and our preview,” according to the firm, which was “somewhat surprised at the selloff after hours.” However, the firm still sees 2024-25 as investment years for the AI opportunity and thinks some revenue and earnings expectations are “still too high,” the analyst tells investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter