Truist Securities Raises AMD Price Target to $283

Truist Securities analyst William Stein raised the price target on AMD (NASDAQ: AMD) to $283.00 (from $277.00) while maintaining a Buy rating.

“We believe AMD is growing EPS at a ~45% CAGR through CY30 and trades at only ~11x CY30 EPS power, so it’s still a BUY. AMD’s Q4 results beat, & Q1 guidance was higher.

Unfortunately, for Q4, 65% of the revs and all of the EPS beat were from selling a written-down China SKU. In the Q1 outlook, a 7% OpEx overage eliminates the revs & GPM upside.

Still, AMD reiterated a 60% DC CAGR, 35% total sales CAGR, which we believe results in over $20 of EPS in 2030.

The linchpin of our thesis is strong customer engagement which continues to match feedback from our industry contacts.

CY27 EPS to $10.11 (from $9.25) and PT to $283 (from $277) based on peer-equiv 28x.

BUY.”

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