AMD price target raised to $155 from $145 at Wedbush

Wedbush analyst Matt Bryson raised the firm’s price target on AMD to $155 from $145 and keeps an Outperform rating on the shares. AMD’s Q2 results were just OK, the firm says. Data Center came in just light of expectations, offset by a bit stronger than anticipated rebound in Client revenues. Guidance for Q3 was arguably disappointing with revenues and earnings missing previous consensus estimates, enterprise compute perhaps not growing as fast as previously expected, and gaming and embedded are expected to dip following surprisingly strong results in both segments, Wedbush adds. However, the firm believes investors are appropriately looking past somewhat lackluster near-term results and towards potential gains starting later this year, and potentially accelerating into 2024/2025.