Raymond James Downgrades Advanced Micro Devices to Outperform, Raises Price Target to $195
Portfolio Pulse from Benzinga Newsdesk
Raymond James analyst Srini Pajjuri has downgraded Advanced Micro Devices (AMD) from Strong Buy to Outperform while increasing the price target from $190 to $195.
January 30, 2024 | 10:42 am
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AMD was downgraded by Raymond James from Strong Buy to Outperform, but the price target was raised from $190 to $195.
The downgrade from Strong Buy to Outperform may be seen as a negative signal, suggesting that AMD's stock might not have as much upside as previously thought. However, the increase in the price target to $195 indicates a belief in continued growth, albeit at a potentially slower pace. The mixed nature of this news could lead to neutral short-term price movement as the market digests both the downgrade and the raised price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100