Benchmark Raises AMD Price Target to $485

Benchmark analyst Cody Acree raised the price target on AMD (NASDAQ: AMD) to $485.00 (from $325.00) while maintaining a Buy rating.

“AMD’s shares rose more than 15% after hours as we believe the quarter and call materially improved investor confidence in the breadth, durability, and visibility of the company’s AI-driven growth.

The company’s 1Q beat, its June-quarter guide well above Street, a doubling of its projected server CPU CAGR and TAM estimate, and stronger commentary around multi-year Instinct GPU deployments all pointed to a larger earnings base than investors had been underwriting.

Management sounded particularly constructive around EPYC demand tied to inference and agentic AI, while Meta and OpenAI engagements helped sharpen visibility into 2027 accelerator deployments.

As we believe AMD is well positioned to benefit from both the positive macro data center trends driving increased CPU architectural importance across inference and agentic AI workloads, which is magnified by its own company specific share gains across the server and client segments, we reiterate our Buy rating and are raising our price target to $485 from $325, as we believe AMD is continuing to gain traction across both sides of the AI CPU/GPU compute stack and the market is still in the early stages of fully reflecting the company’s broader earnings potential.”

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