What the analyst said
HSBC analyst Frank Lee downgraded AMD (NASDAQ: AMD) from Buy to Hold, PT $340.00 (from $335.00).
“Downgrade to Hold (from Buy) with a higher target price of USD340: We raise our target price from USD335 to USD340 as we apply a target PE multiple of 31x to our revised 2027e EPS estimate.
We downgrade our rating to Hold as the stock has already significantly re-rated from trading at a 19x 2027e PE multiple to a 33x PE multiple with limited room for earnings upside due to capacity constraints.
We introduce our 2028e estimates.”
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 29 analysts who set a target in the last 3 months range from $540 to $1,250, with a median of $650. This $340 target is 48% below the median, the lowest on the Street.
Since the note AMD has moved +36% (from $361). 12-month window: day 185 of 365, closes on May 4, 2027.
Track record
This callOpen: AMD has not reached $340 yet. This 12-month target is scored on May 4, 2027.
Firm track recordHSBC: 60% of its 20 targets at least a year old were reached within 12 months (#24 of 26 firms); on AMD, 2 of 2. Accuracy ranking →
HSBC on AMD
HSBC price targets on AMD
4 calls from May 27, 2025 to May 4, 2026. The target went from $200 to $340 (+70%). The rating stayed Hold.
- May 4, 2026 This noteKept the $340 targetHold$340
- May 4, 2026Downgraded to Hold, target raised from $200 (+70%)Hold$340
- July 10, 2025Upgraded to Buy, set a $200 targetBuy$200
- May 27, 2025Earliest call shownHoldNo target
Other analysts on AMD
StoneXBuy
Kept rating and price target · Nov 4
$685maintained
DA DavidsonBuy
Raised price target +9%, kept rating · Nov 4
$600from $550
TD CowenBuy
Kept rating and price target · Nov 4
$675maintained
RBC CapitalHold
Kept rating and price target · Nov 4
$540maintained
Wolfe ResearchBuy
Kept rating and price target · Nov 4
$650maintained