AMD price target raised to $205 from $190 at Wells Fargo

Wells Fargo analyst Aaron Rakers raised the firm’s price target on AMD to $205 from $190 and keeps an Overweight rating on the shares. Wells Fargo views AMD’s $665M all-cash acquisition of Silo AI, the largest private AI lab in Europe as a positive tactical and strategic move focused on deepening AMD’s internal open-source AI software expertise, the analyst tells investors in a research note.