Jefferies AMD

Jefferies Downgrades AMD to Hold, $120 Price Target

Analyst: Blayne Curtis 1 min read Reproduced verbatim
Rating
Hold
from Buy
Target
$120
from $135 (−11%)
Outcome
Reached
on June 9, 2025
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What the analyst said

Jefferies analyst Blayne Curtis downgraded AMD (NASDAQ: AMD) from Buy to Hold with a price target of $120 (from $135).

“When we assumed coverage of AMD back in May 2024, we saw continued share gains in PC/Server but had some concerns on the AI ramp and wanted to see more progress to justify a continued positive stance.

Fast forward to today, we are still not seeing much traction in AI to support the $10-15B of AI revenue the street is baking in for 2026/2027 and see Intel’s new management as a catalyst for them to become more competitive, particularly in Client PC.

We move to the sidelines until estimates reset and we get better clarity on AMD’s AI traction and Intel’s turn-around plans.”

Disclaimer
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

AMD trades at $487. The 23 analysts who set a target in the last 3 months range from $510 to $800, with a median of $685. This $120 target is 82% below the median, the lowest on the Street.

Since the note AMD has moved +342% (from $110). The 12-month window closed on March 27, 2026.

Track record

This call✓ Target reached on June 9, 2025, 2 months after the note.

Firm track recordJefferies: 67% of its 18 targets at least a year old were reached within 12 months (#20 of 26 firms); on AMD, 3 of 3. Accuracy ranking →

Jefferies on AMD

Jefferies price targets on AMD

8 calls from March 27, 2025 to July 24, 2026. The target went from $120 to $640 (+433%). The rating moved from Hold to Buy.

Jefferies targetAMD share price
  1. July 24, 2026Target raised from $300 (+113%)Buy$640
  2. February 24, 2026Kept the $300 targetBuy$300
  3. February 24, 2026Kept the $300 targetBuy$300
  4. November 12, 2025Kept the $300 targetBuy$300
  5. November 5, 2025Kept the $300 targetBuy$300
  6. October 6, 2025Upgraded to Buy, target raised from $100 (+200%)Buy$300
  7. May 7, 2025Target cut from $120 (−17%)Hold$100
  8. March 27, 2025 This noteEarliest call shownHold$120
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Other analysts on AMD

Morgan StanleyHold Raised price target +10%, kept rating Nov 2 $510from $465 SusquehannaBuy Raised price target +5%, kept rating Oct 28 $650from $620 Aletheia CapitalBuy Raised price target +14%, kept rating Oct 28 $800from $700 SusquehannaBuy Raised price target +13%, kept rating Oct 21 $620from $550 TD CowenBuy Kept rating and price target Oct 19 $675maintained
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.