UBS AMD

UBS Reiterates Buy Rating on AMD

Analyst: Timothy Arcuri 1 min read Reproduced verbatim
Rating
Buy
Unchanged
Target
$310
Unchanged
Outcome
Reached
on April 24, 2026
UBS and AMD logos

What the analyst said

UBS analyst Timothy Arcuri reiterated a Buy rating and $310.00 price target on AMD (NASDAQ: AMD).

“We emerged more confident in revenue upside for C2027 as the company is now suggesting there could be a third GW-scale customer beyond the deals it has struck with OpenAI and META.

While we can’t be sure who this is, MSFT seems to us the most likely.

Regarding investor concerns that the warrant structure and 10% equity stakes for META/OpenAI will now become pre-requisites for GW-scale engagement, AMD pushed back aggressively and indicated that it considers these to be unique deals targeted for LLM model builders because they are controlling so much of the ecosystem.

AMD also views this structure as accretive longer term and a vehicle to dramatically accelerate its share gains in the broader accelerator market.

AMD was very bullish on the CPU business and now sees upside to the LT financial model’s 18% market CAGR both from units and ASPs.

Overall, we emerge confident in our $310 PT and Buy rating, though we do believe AMD is probably more of a 2H:26 story as MI450 shipments related to the OpenAI deal commence, followed shortly thereafter by META shipments.”

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 $486. The 23 analysts who set a target in the last 3 months range from $510 to $800, with a median of $685. This $310 target is 55% below the median, the lowest on the Street.

Since the note AMD has moved +143% (from $200). 12-month window: day 246 of 365, closes on March 2, 2027.

Track record

This call✓ Target reached on April 24, 2026, 3 months after the note. Same target as this firm’s February 4, 2026 note, so it is scored there.

Firm track recordUBS: 81% of its 52 targets at least a year old were reached within 12 months (#10 of 26 firms); on AMD, 4 of 4. Accuracy ranking →

UBS on AMD

UBS price targets on AMD

8 calls from October 7, 2025 to April 28, 2026. The target went from $265 to $455 (+72%). The rating stayed Buy.

UBS targetAMD share price
  1. April 28, 2026Target raised from $310 (+47%)Buy$455
  2. March 2, 2026Kept the $310 targetBuy$310
  3. March 2, 2026 This noteKept the $310 targetBuy$310
  4. February 4, 2026Target raised from $300 (+3%)Buy$310
  5. November 12, 2025Kept the $300 targetBuy$300
  6. November 5, 2025Target raised from $265 (+13%)Buy$300
  7. October 27, 2025Kept the $265 targetBuy$265
  8. October 7, 2025Earliest call shownBuy$265
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.