Advanced Micro Devices (NASDAQ:AMD) Shares Climb 3.4% Following Analyst Upgrade

Advanced Micro Devices (NASDAQ:AMD) shares climbed 3.4% after Susquehanna raised its price target to $620 from $550, maintaining a positive rating. The semiconductor manufacturer currently holds an average "Moderate Buy" rating with a consensus price target of $606.76. Despite strong earnings and significant institutional ownership, AMD's valuation remains elevated with a P/E ratio over 142.