Overview
- Wells Fargo’s Aaron Rakers reiterated an Overweight on AMD with a $345 price target, implying about 49% upside from roughly $232.
- UBS lifted its target to $300, Piper Sandler to $280, KeyBanc to $270 with an upgrade to Overweight, and Morgan Stanley to $260 with Equalweight.
- Citi kept a Neutral rating with a $260 target, pointing to muted margin leverage, while RBC initiated at Sector Perform with a $230 target on valuation concerns.
- AMD reported roughly $4.3 billion in Q3 data-center revenue, up 22% year over year and about 47% of total sales, reinforcing AI-led growth narratives.
- Recent product moves include the Helios rack-scale AI platform that bundles GPUs, EPYC CPUs, networking and ROCm software, and the Ryzen AI Embedded P100 and X100 chips for edge applications.