What the analyst said
Stifel analyst Ruben Roy raised the price target on AMD (NASDAQ: AMD) to $240 (from $190) while maintaining a Buy rating.
“AMD entered a strategic agreement with OpenAI, issuing warrants for up to 160mn shares (~10% of pro-forma float) by CY30, dependent on OpenAI and affiliates (i.e., CSPs of choice) purchasing and AMD delivering 6GW of rack-scale compute in the same time-frame, as well as the contingency of AMD’s stock reaching price milestones of up to $600/share by the last GW-basis tranche of deployment.
This deal positions AMD as a co-design partner in OpenAI’s infrastructure roadmap, elevating AMD’s perceived positioning in AI compute and rack-scale systems, with management hinting that more such deals are in the works.
The structure is investor friendly, as warrants only vest as hardware is delivered and AMD’s valuation rises, and it should be earnings accretive.
Given the figures provided, we back into what we view as AMD’s implied expectation of a low- to mid-single-digit multiple of trailing-twelve-month revenue by CY30 relative, on a higher sustained adj-OM.
Reiterate Buy.”
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Where the price stands
AMD trades at $545. The 26 analysts who set a target in the last 3 months range from $465 to $1,250, with a median of $680. This $240 target is 65% below the median, the lowest on the Street.
Since the note AMD has moved +231% (from $165). The 12-month window closed on October 6, 2026.
Track record
Firm track recordStifel: 96% of its 27 targets at least a year old were reached within 12 months (#3 of 28 firms); on AMD, 2 of 2. Accuracy ranking →
Stifel on AMD
Stifel price targets on AMD
8 calls from February 5, 2025 to February 4, 2026. The target went from $162 to $280 (+73%). The rating stayed Buy.
- February 4, 2026Kept the $280 targetBuy$280
- November 5, 2025Target raised from $240 (+17%)Buy$280
- October 6, 2025 This noteTarget raised from $132 (+82%)Buy$240
- June 13, 2025Kept the $132 targetBuy$132
- May 19, 2025Kept the $132 targetBuy$132
- May 7, 2025Target cut from $162 (−19%)Buy$132
- April 1, 2025Kept the $162 targetBuy$162
- February 5, 2025Earliest call shownBuy$162
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
CantorBuy
Kept rating and price target · Oct 5
$700maintained
RosenblattBuy
Kept rating and price target · Sep 29
$700maintained
Bank of AmericaBuy
Raised price target +16%, kept rating · Sep 25
$720from $620