AMD price target lowered to $200 from $245 at Benchmark

Benchmark analyst Cody Acree lowered the firm’s price target on AMD to $200 from $245 and keeps a Buy rating on the shares. Though AMD posted March quarter results that just met Street expectations and provided a “slightly soft” outlook for the June quarter, the firm believes the market taking the company’s stock down as much as 8.5% intra-day was “based on a superficial view of AMD’s industry position and largely misses the most important takeaways” from the company’s report, the analyst tells investors.