What the analyst said
Bernstein SocGen Group analyst Stacy Rasgon reiterated a Market Perform rating and $200 price target on AMD (NASDAQ: AMD).
“Has AMD found their grail? Investors certainly seem to think so.
And while we did not have the company giving up 10% of their equity for the privilege of selling to Sam Altman on our bingo card, we understand it (AMD has to be on the OpenAI rocket ship or get left in the dust, and so Lisa Su bought her ticket).
It clearly remains to be seen how smoothly the ramp will go, whether other customers come on in size (and whether some recent announcements are even incremental), and we worry somewhat that the Street may be getting overly-optimistic as to the pace into 2027.
But for now the set-up into the print as a result admittedly looks solid; core markets (PCs, servers) are looking better in the near term, they continue to take oodles of share, and as the OpenAI ramp doesn’t even start for a year a tremendous amount of pressure has probably been removed from any nearerterm AI expectations (i.e. what if they were to miss AI for Q4?
Who would care?) with the forthcoming analyst day providing another chance to bull up the audience. We remain on the sidelines, but believe this one could work for now. MP; $200 PT.”
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 $200 target is 71% below the median, the lowest on the Street.
Since the note AMD has moved +109% (from $233). The 12-month window closed on October 20, 2026.
Track record
This call✓ Target reached on December 17, 2025, 2 months after the note. Same target as this firm’s October 7, 2025 note, so it is scored there.
Firm track recordBernstein: 79% of its 24 targets at least a year old were reached within 12 months (#13 of 26 firms); on AMD, 2 of 2. Accuracy ranking →
Bernstein on AMD
Bernstein price targets on AMD
8 calls from April 22, 2025 to February 4, 2026. The target went from $95 to $235 (+147%). The rating stayed Hold.
- February 4, 2026Target raised from $225 (+4%)Hold$235
- January 21, 2026Target raised from $200 (+13%)Hold$225
- November 12, 2025Kept the $200 targetHold$200
- October 20, 2025 This noteKept the $200 targetHold$200
- October 7, 2025Target raised from $95 (+111%)Hold$200
- June 13, 2025Kept the $95 targetHold$95
- May 7, 2025Kept the $95 targetHold$95
- April 22, 2025Earliest call shownHold$95
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