RBC Capital AMD

RBC Capital Initiates AMD at Sector Perform, $230 Price Target

Analyst: Srini Pajjuri 1 min read Reproduced verbatim
Rating
Sector Perform
New coverage
Target
$230
First target
Outcome
Reached
on January 16, 2026
RBC Capital and AMD logos

What the analyst said

RBC Capital analyst Srini Pajjuri initiates coverage on AMD (NASDAQ: AMD) with a Sector Perform rating and a price target of $230.00.

“AMD is making solid progress in the AI GPU market across major hyperscalers.

Its recent OpenAI partnership should establish the company as a legitimate supplier for gigawatt scale projects.

Management appears to have high conviction in initial 1GW rollouts, which is reflected in our estimates. Helios, AMD’s first rack-scale design, looks impressive but comes with usual execution risks.

In addition, key customers META, MSFT, and OpenAI have in-house ASIC programs scheduled to ramp in 2026/27.

We see balanced risk/reward given premium valuation and limited near-term catalysts until OpenAI ramps start in late 2026. Initiate at Sector Perform.”

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 $489. The 23 analysts who set a target in the last 3 months range from $510 to $800, with a median of $685. This $230 target is 66% below the median, the lowest on the Street.

Since the note AMD has moved +121% (from $221). 12-month window: day 293 of 365, closes on January 14, 2027.

Track record

This call✓ Target reached on January 16, 2026, 2 days after the note.

Firm track recordRBC Capital: 50% of its 16 targets at least a year old were reached within 12 months (#26 of 26 firms). Accuracy ranking →

RBC Capital on AMD

RBC Capital price targets on AMD

7 calls from January 14, 2026 to July 24, 2026. The target went from $230 to $540 (+135%). The rating stayed Hold.

RBC Capital targetAMD share price
  1. July 24, 2026Target raised from $400 (+35%)Hold$540
  2. May 6, 2026Target raised from $325 (+23%)Hold$400
  3. April 30, 2026Target raised from $230 (+41%)Hold$325
  4. February 4, 2026Kept the $230 targetHold$230
  5. February 4, 2026Kept the $230 targetHold$230
  6. January 14, 2026Kept the $230 targetHold$230
  7. January 14, 2026 This noteEarliest call shownHold$230
Share

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
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.