Wells Fargo analyst Aaron Rakers raised the firm’s price target on AMD (AMD) to $185 from $120 and keeps an Overweight rating on the shares. The firm remains bullish on the name into AMD’s Q2 print, and says it is increasing estimates. Wells expects AMD to point to sustained datacenter momentum into the second half of the year; roadmap execution and building rack-scale strategy.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMD:
- AMD Stock Rally Is ‘Empty Calories,’ Says Citi’s Top Analyst
- AMD Stock Soars as Trump Lifts China AI Chip Ban
- ‘Watch AMD Stock Surge,’ Top BofA Analyst Boosts Price Target on Strong AI Momentum
- Sales Down, Layoffs Rise: Intel Stock (NASDAQ:INTC) Continues Slide
- ‘Time to Stock Up,’ Says Investor about AMD Stock