Susquehanna raised its price target on Advanced Micro Devices (NASDAQ:AMD) to $115 from $112, maintaining its Positive rating.
The analysts noted that H1 choppiness establishes the foundation for an H2 recovery. On May 2, the company is scheduled to report its Q1 earnings. Susquehanna anticipates generally in-line quarterly results, but they are uncertain about the guide, citing a modest risk.
The analysts hope the company will provide guidance for the full year, with revenue possibly down slightly to $23.3 billion (or flat), gross margins above 50%, and OPEX at around 27.5%.
The company is optimistic about an H2 recovery. Wall Street analysts also share this sentiment, expecting an 11.3% sequential increase in Q3 and 7.2% in Q4.