AMD Faces Price Target Cuts By Analysts Following Revenue Warning, Shares Tumble

AMD Faces Price Target Cuts By Analysts Following Revenue Warning, Shares Tumble

Advanced Micro Devices Inc. AMD shar warned of a revenue shortfall and lowered its gross margin guidance.

The company said its third-quarter revenue will likely come in at $5.6 billion, down from the previous forecast of $6.7 billion, plus or minus $200 million.

AMD shares fell 5.4% to $64.19 in pre-market trading.

These analysts made changes to their price targets on AMD after the company issued revenue warning.

  • Keybanc cut price target on AMD from $130 to $100. Keybanc analyst John Vinh maintained an Overweight rating on the stock.
  • Piper Sandler lowered AMD’s price target from $140 to $90. Piper Sandler analyst Harsh Kumar maintained the stock with an Overweight.
  • Barclays reduced AMD price target from $85 to $68. Barclays analyst Blayne Curtis maintained an Equal-Weight rating on the stock.
  • Raymond James cut price target on the stock from $130 to $100. Raymond James analyst Melissa Fairbanks maintained AMD with a Strong Buy.
  • Morgan Stanley lowered the price target on the stock from $95 to $86. Morgan Stanley analyst Joseph Moore maintained the stock with an Overweight.
  • Benchmark slashed AMD price target from $135 to $95. Benchmark analyst Cody Acree maintained a Buy rating on the stock.
  • Truist Securities cut AMD’s price target from $107 to $70. Truist Securities analyst William Stein maintained the stock with a Hold.
  • Wells Fargo reduced price target on AMD from $90 to $85. Wells Fargo analyst Aaron Rakers maintained the stock with an Overweight.
  • Baird cut AMD’s price target from $100 to $65. Baird analyst Tristan Gerra maintained the stock with a Neutral rating.
  • Mizuho reduced AMD price target from $125 to $102. Mizuho analyst Vijay Rakesh maintained a Buy rating on the stock.
  • Stifel lowered price target on the stock from $ $122 to $100. Stifel analyst Ruben Roy maintained AMD with a Buy.
  • B of A Securities cut the price target on the stock from $100 to $90. B of A Securities analyst Vivek Arya maintained AMD with a Buy.

Posted In: PT ChangesEarningsNewsGuidancePrice TargetPre-Market OutlookMarketsAnalyst Ratings