Citi analyst Christopher Danely raised the firm’s price target on AMD (AMD) to $120 from $100 and keeps a Neutral rating on the shares ahead of the company’s Advancing AI day on June 12. The firm expects AMD to launch its latest AI product – MI355X – and talk about its upcoming MI400 product. It also expects AMD to highlight new customers such as Amazon Web Services or potentially OpenAI. It adjusted the company’s model for a one-time charge of $800M due to China export controls.
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