Rosenblatt Raises AMD Price Target to $490
Rosenblatt analyst Kevin Cassidy raised the price target on AMD (NASDAQ: AMD) to $490.00 (from $300.00) while maintaining a Buy rating.
“AMD delivered a beat-n-raise earnings report. The upside was driven by demand for server CPUs as the use of Agentic AI proliferates and drives productivity.
Server CPU revenue growth was 50%+ during the quarter. Outlook for June is 70%+ Y/Y growth.
According to management most of the growth is driven by unit shipments with double-digit increase in ASP/unit. ASP/core continues to decline but demand is mix is increasing for CPUs with more cores.
We are lifting our estimates and our 12-month price target to $490, based on a P/E multiple of 35x our FY27E Non-GAAP EPS.
We see 35x as justified to AMD’s top line growing 40%+ and bottom line growing 80%+.”
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.
