What the analyst said
Bernstein SocGen Group analyst Stacy Rasgon raised the price target on AMD (NASDAQ: AMD) to $265.00 (from $235.00) while maintaining a Market Perform rating.
“We adjust estimates to incorporate better server / weaker PC assumptions (now with EPYC sales up ~50% YoY in 2026), and add in the new Meta AI deal (which consensus does not appear to be fully incorporating).
Similar to Intel we appear below consensus on PCs.
We now model AMD’s Q126 at $9.9B/$1.27, up from $9.8B/ $1.25 prior, and inline to a touch above consensus at $9.8B/$1.27.
For Q226 we now model $10.1B/$1.38 vs $10.0B/$1.33 prior, below consensus at $10.5/$1.42 (lower PCs).
For 2026 we now model $45.8B/$6.48, up from $44.2B/$6.12 prior, and below consensus at $47.0/$6.74 with $14.2B AI revenues (up ~$1B vs prior).
For next year (2027) however we now model $76.7B/$13.23, up from $56.7B/$9.25 prior on Meta addition and server increases, well above consensus at $67.5B/$11.02 with $43B AI revenues (+$16B vs $27B prior due to Meta).
We are warming to AMD as well as they benefit from server CPU strength; we also note that consensus is not yet fully modeling in the Meta win suggesting 2027 numbers are likely too low, though we caution that (similar to Intel) Street PC numbers look high to us (impacting our outlook for 2026).
On the positive, AMD has been better at anticipating and capitalizing on the current server surge and have been successful in signing new Helios partners.
On the other hand, Street estimates already appear to model server sales for the company up ~50% YoY, it remains to be seen if the Helios ramp will really be as smooth as hoped, and (of course) they have yet to prove they can sign large AI deals without giving away chunks of the company in return.
But dynamics (outside of PC) seem supportive and the stock is less expensive than it was.”
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Where the price stands
AMD trades at $487. The 23 analysts who set a target in the last 3 months range from $510 to $800, with a median of $685. This $265 target is 61% below the median, the lowest on the Street.
Since the note AMD has moved +89% (from $258). 12-month window: day 201 of 365, closes on April 16, 2027.
Track record
This call✓ Target reached on April 16, 2026, 0 days after the note.
Firm track recordBernstein: 79% of its 24 targets at least a year old were reached within 12 months (#13 of 26 firms); on AMD, 2 of 2. Accuracy ranking →
Bernstein on AMD
Bernstein price targets on AMD
8 calls from October 7, 2025 to May 6, 2026. The target went from $200 to $525 (+163%). The rating moved from Hold to Buy.
- May 6, 2026Kept the $525 targetBuy$525
- May 6, 2026Upgraded to Buy, target raised from $265 (+98%)Buy$525
- April 16, 2026 This noteTarget raised from $235 (+13%)Hold$265
- February 4, 2026Target raised from $225 (+4%)Hold$235
- January 21, 2026Target raised from $200 (+13%)Hold$225
- November 12, 2025Kept the $200 targetHold$200
- October 20, 2025Kept the $200 targetHold$200
- October 7, 2025Earliest call shownHold$200
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