AMD price target raised to $410 from $360 at Morgan Stanley

Morgan Stanley raised the firm’s price target on AMD (AMD) to $410 from $360 and keeps an Equal Weight rating on the shares. Numbers in the first half were slightly above the firm’s recent upward revisions, but “our numbers don’t change much beyond that timeframe,” the analyst tells investors in a post-earnings note. After guiding for a five-year trajectory for 18% growth at the November analyst day, the company now says they anticipate total addressable market growth closer to 35%, consistent with bullish views on CPUs, the analyst added.