Bernstein SocGen Raises AMD Price Target to $225
Bernstein SocGen Group analyst Stacy Rasgon raised the price target on AMD (NASDAQ: AMD) to $225.00 (from $200.00) while maintaining a Market Perform rating.
“AMD’s AI efforts have admittedly come a long way.
However, at this point OAI remains the only sizable announced Helios customer, and hence the entire narrative hinges on 1) the progression of that deal and 2) further meaningful customer announcements (for which there have been none yet).
Nevertheless, given the OAI ramp starts later this year, there may be less pressure on the near-term AI prospects at least, and the company seems likely to benefit in their core business from server strength and share gains which may be taken positively while we wait to see how big the AI opportunity really is for them though the stock at ~35x P/FE (10 turns higher than NVDA) appears to be pricing in considerable success.
Bumping PT to $225 on higher numbers; MP.”
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