AMD rises even as Citi starts negative 90-day catalyst watch
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AMD (NASDAQ:AMD) shares rose more than 1% in mid-day trading on Monday as investment firm Citi started a negative 90-day catalyst watch on the semiconductor giant.
"We expect downside to estimates driven by the correction in the data center/gaming/embedded markets (84% of C23E sales)," analyst Christopher Danely wrote in an investor brief.

Danely has a neutral rating and per-share price target of $120 on AMD (AMD) shares.
A consensus of analysts expect AMD (AMD) to earn 57 cents per share on $5.34B in revenue during the second-quarter.

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