AMD price target lowered to $168 from $185 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on AMD (AMD) to $168 from $185 and keeps an Equal Weight rating on the shares. The quarter was strong across segments and revenue continues to be “quite strong, but it’s not clear that will be enough to keep the bulls in charge of the narrative,” the analyst tells investors. The timing of China resumption was “more vague than expected,” adds the analyst, who cites lower conviction in China demand and a lack of AI upside overall for the firm’s lowered price target