Citi analyst Christopher Danely keeps a Neutral rating on AMD (AMD) with a $120 price target after the company held its advancing AI event and launched its latest artificial intelligence chip the MI355X. AMD raised the AI total addressable market from $500B to over $500B by 2028 and also announced a new customer, xAI, but did not provide a revenue forecast for its AI business which would benefit the stock, the analyst tells investors in a research note.
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