AMD target raised as Stifel expects in line December quarter results
Stifel raised the AMD (NASDAQ:AMD) price target to $200 from $170 per share on Friday, with analysts maintaining a Buy rating on the stock in a note.
Ahead of the company's 4Q earnings results on Tuesday, January 30, analysts said they expect in-line December quarter results vs. the $6.1 billion guidance midpoint and the consensus estimate of $6.13 billion.
«We are lowering our March quarter estimate, which was previously above consensus, to $5.7 billion (+6.5% y/y, -6.6% q/q roughly in line with consensus), mostly due to our Embedded segment assumptions that we now view as too aggressive,» explained the analysts.
«Data points across key Industrial and Communications end markets weakened throughout 4Q, and we expect a similar scenario to play out in the near term,» they added.
The firm expects this segment to recover in the second half of 2024. Stifel's full-year 2025 estimates are largely unchanged, while they modestly raised their 2025 estimates on stronger Data Center segment assumptions.
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