07:20 AM EDT, 05/01/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our 12-month target at $200, on P/E of 36.8x our '25 EPS view, below 5-year historical average/above peers. We adjust our '24 EPS estimate to $3.54 from $4.10 but keep '25 at $5.44. AMD posts Q1 EPS of $0.62 vs. $0.60, beating the $0.61 consensus. Sales rose 2% and provided Q2 outlook (+6% Y/Y) largely in line with expectations, as investors were hoping for more amid a strong AI capex environment. Still, Data Center momentum (+80%) remains strong, as it incrementally boosts '24 GPU server outlook ($4B from $3.5B) given better MI300X visibility from cloud players (Microsoft, Meta, Oracle) and enterprise momentum. Easy comparisons and PC recovery drove Client (+85%), while we expect an enterprise refresh cycle for AI PCs to start in the 2H. Lower Embedded (-46%) and Gaming (-48%) demand remain headwinds but will alleviate in the 2H. AMD remains a sharetaker on the server CPU side (at the expense of Intel) while gross margin expanded by 230 basis points to 52%, on better mix. Net cash stands at $4.2B.