Truist Raises AMD Price Target to $594
Truist Securities analyst William Stein raised the price target on AMD (NASDAQ: AMD) to $594 (from $478) while maintaining a Buy rating.
“Improving product performance, accelerating customer demand, and AMD’s strong execution are combining to drive AMD’s Q3 guidance and 2027 outlook higher.
The company delivered modest upside to Q2 results and Q3 guidance. More important, AMD aligning its TAM growth and GW-scale customer win data with a 2027 Datacenter outlook to “more than double”.
This makes the longer-term growth trajectory even more believable.
Nearer-term we take our CY27 EPS to $14.49 (from $10.61) and PT to $594 (from $478) based on 41x (inline with datacenter peers).
Notably: AMD now trades at only 14x our back-of-envelope CY30 est. of $33.81.”
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