AMD Stock: Wedbush Removes from Best Ideas List, Mizuho Trims Price Target
2022.09.15 07:36
© Reuters. AMD Stock: Wedbush Removes from Best Ideas List, Mizuho Trims Price Target
By Senad Karaahmetovic
Shares of Advanced Micro Devices (NASDAQ:) are down modestly in premarket Thursday trading after Wedbush analysts removed the stock from their Best Ideas List.
AMD is removed “due to our investment price discipline,” strategists wrote in a client note. Instead, Deckers Outdoor Corp (NYSE:) is added.
Elsewhere, a Mizuho analyst trimmed the price target to $125 from $140 to reflect slower Server growth. The lowered price target reflects lowered estimates for the December quarter and FY23.
“Our PT still implies >60% upside as we see AMD potentially continuing to gain share despite macro headwinds,” he commented.
NVIDIA (NASDAQ:) also saw its price target cut, in this case to $205 from $225 on the same basis.
“We see NVDA well-positioned with its AI dominance >90% of AI workloads, with AI
