Morgan Stanley raised the firm’s price target on AMD (AMD) to $260 from $246 and keeps an Equal Weight rating on the shares. The company showed upside in Q3 and guided in line with the firm’s estimate and slightly above the Street view for Q4 revenues, with particular strength in gaming along with upside in data center, the analyst tells investors. For the upcoming analyst day, the firm says its focus is the state of the rack scale ecosystem, noting that its “best guess” is that the company will provide a longer term data center target rather than a specific GPU target.
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