AMD shares are trading lower after Raymond James downgraded the stock from Strong Buy to Outperform but raised its price target from $190 to $195.
Portfolio Pulse from Benzinga Newsdesk
AMD's stock is trading lower following a downgrade by Raymond James from 'Strong Buy' to 'Outperform', despite an increase in the price target from $190 to $195.
January 30, 2024 | 8:16 pm
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AMD's stock price is experiencing downward pressure after Raymond James downgraded the rating, which may overshadow the raised price target.
The downgrade from 'Strong Buy' to 'Outperform' suggests that Raymond James sees limited upside potential relative to previous expectations, which can lead to short-term negative sentiment among investors. However, the increase in price target indicates a belief in AMD's value proposition, potentially mitigating some of the negative impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100