Evercore AMD

Evercore ISI Reiterates Outperform on AMD, $144 Price Target

Analyst: Mark Lipacis 1 min read Reproduced verbatim
Rating
Outperform
Unchanged
Target
$144
Outcome
Reached
on July 10, 2025
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What the analyst said

Evercore ISI analyst Mark Lipacis reiterated an Outperform rating and $144 price target on AMD (NASDAQ: AMD)

“According to AMD, the US Department of Commerce recently informed it that its license to ship MI308X to China will be moving forward for review.

AMD plans to resume shipments once the license is approved and expects to offer a detailed update on the progress at its earnings call on August 5th.Potential Near Term Revenue Upside of $700m, Medium Term Upside Potential of $1.5bn.

AMD previously estimated ~$700m revenue reduction in 2Q related to restrictions and a full-year negative impacts to C2025 revenues $1.5bn.

We currently estimate AMD’s C2025 GPU revs at $6bn and view $700m as a near term potential revenue upside.Potential for 2Q GM Upside vs Guide.

AMD expected a 1x $800m write-down related to the inventory and purchase commitments in AprQ resulting in 1100bps GM headwind guiding 2Q GM at 43% (vs 54% unaffected).

It is not clear if AMD booked entire write-downs in April, but we believe that MI308X products are higher GMs vs other Instinct GPUs, and should the shipments resume we anticipate tailwind to GMs.”

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Where the price stands

AMD trades at $404. The 30 analysts who set a target in the last 3 months range from $540 to $1,250, with a median of $650. This $144 target is 78% below the median, the lowest on the Street.

Since the note AMD has moved +177% (from $146). The 12-month window closed on July 15, 2026.

Track record

This call✓ Target reached on July 10, 2025, 27 days after the note. Same target as this firm’s June 13, 2025 note, so it is scored there.

Firm track recordEvercore: 88% of its 16 targets at least a year old were reached within 12 months (#3 of 26 firms); on AMD, 2 of 2. Accuracy ranking →

Evercore on AMD

Evercore price targets on AMD

6 calls from May 7, 2025 to May 19, 2026. The target went from $126 to $579 (+360%). The rating stayed Buy.

Evercore targetAMD share price
  1. May 19, 2026Target raised from $328 (+77%)Buy$579
  2. February 4, 2026Target raised from $144 (+128%)Buy$328
  3. July 15, 2025 This noteKept the $144 targetBuy$144
  4. June 13, 2025Target raised from $126 (+14%)Buy$144
  5. May 14, 2025Kept the $126 targetBuy$126
  6. May 7, 2025Earliest call shownBuy$126
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Other analysts on AMD

HSBCHold Raised price target +8%, kept rating Nov 5 $540from $500 StoneXBuy Kept rating and price target Nov 4 $685maintained DA DavidsonBuy Raised price target +9%, kept rating Nov 4 $600from $550 TD CowenBuy Kept rating and price target Nov 4 $675maintained RBC CapitalHold Kept rating and price target Nov 4 $540maintained
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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.