AMD price target raised to $198 from $132 at Northland

Northland analyst Gus Richard raised the firm’s price target on AMD (AMD) to $198 from $132 and keeps an Outperform rating on the shares. While AI revenue was impacted by export controls in the quarter, the firm expects AMD’s China AI revenue to come back in calendar year 2026 and contends that the strong momentum AMD is seeing in AI is “still not reflected in consensus estimates.”