What the analyst said
Jefferies analyst Blayne Curtis reiterated a Buy rating and $300 price target on AMD (NASDAQ: AMD).
“Some moving pieces but most important takeaway is further confirmation of Server CPU growth with management noting many large customers now planning substantially larger CPU build-outs over the coming quarters in response to AI demand.
AI revenue checked the box ($1.7B in Q3 and ~$6B in C25), but the real story still the launch of MI450x in 2H26 with customers including OAI and OCI.
GMs were a bit better despite the higher AI revenue as AMD sees room to improve its Client business with Premium offerings and higher Enterprise exposure.
OpEx a little higher but largely R&D focused and to be expected as AMD works to ramp next-gen AI/DC products with potential for more meaningful leverage in 2H26.
Altogether growth story remains on track with Server tailwinds likely to carry estimates higher through 1H26 before MI450x revenue picks up in 2H26.”
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Where the price stands
AMD trades at $491. The 25 analysts who set a target in the last 3 months range from $510 to $1,250, with a median of $675. This $300 target is 56% below the median, the lowest on the Street.
Since the note AMD has moved +96% (from $250). 12-month window: day 364 of 365, closes on November 5, 2026.
Track record
This call✓ Target reached on April 22, 2026, 7 months after the note. Same target as this firm’s October 6, 2025 note, so it is scored there.
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.
- July 24, 2026Target raised from $300 (+113%)Buy$640
- February 24, 2026Kept the $300 targetBuy$300
- February 24, 2026Kept the $300 targetBuy$300
- November 12, 2025Kept the $300 targetBuy$300
- November 5, 2025 This noteKept the $300 targetBuy$300
- October 6, 2025Upgraded to Buy, target raised from $100 (+200%)Buy$300
- May 7, 2025Target cut from $120 (−17%)Hold$100
- March 27, 2025Earliest call shownHold$120
Other analysts on AMD
JP MorganHold
Raised price target +5%, kept rating · Nov 4
$575from $550
Piper SandlerBuy
Raised price target +8%, kept rating · Nov 4
$650from $600
UBSBuy
Cut price target −4%, kept rating · Nov 4
$700from $730
Melius ResearchBuy
Raised price target +8%, kept rating · Nov 4
$650from $600
SusquehannaBuy
Kept rating and price target · Nov 4
$650maintained