AMD added to Q2 Tactical Ideas List at Wells Fargo

Wells Fargo added AMD (AMD) to the firm’s Q2 Tactical Ideas List. The firm sees a positive set-up into AMD’s Q1 results, most notably driven by continued indications of strong EPYC server CPU demand plus additional GW-scale AI GPU announcements. July Accelerating AI event is likely to present a positive catalyst set-up ahead, Wells adds. The firm has an Overweight rating on the shares with a price target of $345.