What the analyst said
Barclays analyst Tom O’Malley reiterated an Overweight rating and $140 price target on AMD (NASDAQ: AMD)
“The highlight is a Client business that is clearly outgrowing the market and led to the beat and raise.
The rub is that offsetting that strength is DC, where MI300 undergrew the Server CPU business in Q4 (we model $1.75B) and is guided to just flattish for 1H25 vs. 2H24.
The business is down in Q1, and if annualized at that rate implies revenue up ~30% Y/Y, though the company is adamant that the business will exit CY25 above the CY24 exit rate.
The company also pointed to ’10s of billions’ in the next several years.
On the positive side, the company is moving through AI product transitions faster and plans to pull MI350 (CDNA 4) into mid-2025, then introduce a new compute (CDNA next) and rack-level architecture with MI400 several quarters later.
We think the stock looks more attractive on this pullback (growing earnings DD y/y) and management has a long history of executing on promised share gains.”
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Where the price stands
AMD trades at $529. The 26 analysts who set a target in the last 3 months range from $465 to $1,250, with a median of $680. This $140 target is 79% below the median, the lowest on the Street.
Since the note AMD has moved +342% (from $120). The 12-month window closed on February 5, 2026.
Track record
This call✓ Target reached on June 25, 2025, 5 months after the note. Same target as this firm’s January 17, 2025 note, so it is scored there.
Firm track recordBarclays: 81% of its 26 targets at least a year old were reached within 12 months (#16 of 28 firms); on AMD, 3 of 3. Accuracy ranking →
Barclays on AMD
Barclays price targets on AMD
6 calls from January 17, 2025 to June 1, 2026. The target went from $140 to $665 (+375%). The rating stayed Buy.
Other analysts on AMD
MizuhoBuy
Raised price target +22%, kept rating · Oct 6
$705from $580
CitiBuy
Raised price target +39%, kept rating · Oct 6
$800from $575
StifelBuy
Raised price target +10%, kept rating · Oct 5
$700from $635
CantorBuy
Kept rating and price target · Oct 5
$700maintained
RosenblattBuy
Kept rating and price target · Sep 29
$700maintained