Melius Research AMD

Melius Research Upgrades AMD to Buy, $175 Price Target

June 23, 2025 Analyst: Ben Reitzers 1 min read Reproduced verbatim
Rating
Buy
from Hold
Target
$175
from $110 (+59%)
Outcome
Reached
on July 29, 2025
Melius Research and AMD logos

What the analyst said

Melius analyst Ben Reitzers upgraded AMD (NASDAQ: AMD) from Hold to Buy with a price target of $175 (from $110).

“Only in the Middle of a Run: We are upgrading shares of AMD given our view that many things have changed for the better since the beginning of the year.

If we are right, the stock has a lot more to go, despite missing the initial move off the bottom.

AMD is highly volatile – as evidenced by its move from $135 to $211 in 2024, only to fall as low as $78 in 2025.

Our hunch is that we are in the middle of another move to the upside again as investors are about to envision even bigger GPU figures in 2026-2028 given a sustainable surge in inferencing, where investing in AMD’s platform seems to be more attractive for hyperscalers and Sovereigns.

We are raising our estimates over the next 3 years, including our target going to $175 from $110 – and think EPS power can top $8 within 2 years.”

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 $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 $175 target is 74% below the median, the lowest on the Street.

Since the note AMD has moved +312% (from $128). The 12-month window closed on June 23, 2026.

Track record

This call✓ Target reached on July 29, 2025, 36 days after the note.

Firm track recordMelius Research: 80% of its 5 targets at least a year old were reached within 12 months (#19 of 28 firms); on AMD, 3 of 3. Accuracy ranking →

Melius Research on AMD

Melius Research price targets on AMD

5 calls from January 28, 2025 to July 24, 2026. The target went from $129 to $660 (+412%). The rating moved from Hold to Buy.

Melius Research targetAMD share price
  1. July 24, 2026Target raised from $380 (+74%)Buy$660
  2. November 12, 2025Target raised from $175 (+117%)Buy$380
  3. June 23, 2025 This noteUpgraded to Buy, target raised from $120 (+46%)Buy$175
  4. February 5, 2025Target cut from $129 (−7%)Hold$120
  5. January 28, 2025Earliest call shownHold$129
Share

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
Share on
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.