Piper Sandler AMD

Piper Sandler Initiates AMD at Overweight, $600 Price Target

1 min read Reproduced verbatim
Rating
Overweight
New coverage
Target
$600
First target
Outcome
Reached
on September 21, 2026
Piper Sandler and AMD logos

What the analyst said

Piper Sandler analyst David O’Connor initiates coverage on AMD (NASDAQ: AMD) with an Overweight rating and a price target of $600.

“Agentic AI is driving an acceleration in demand for CPU Server chips, where AMD is among the primary beneficiaries and taking share.

While in GPUs, the company is ramping Helios and has signed anchor clients in OpenAI, Meta, Anthropic.

We estimate FY26-30 revenues growing at a 50% CAGR and EPS at a 65% CAGR to $53 earnings power in 2030. Setting PT to $600 based on FY28E P/E multiple of 24x.”

Disclaimer
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 $484. The 25 analysts who set a target in the last 3 months range from $510 to $1,250, with a median of $675. This $600 target is 11% below the median.

Since the note AMD has moved −7% (from $521). 12-month window: day 55 of 365, closes on September 10, 2027.

Track record

This call✓ Target reached on September 21, 2026, 11 days after the note.

Firm track recordPiper Sandler: 78% of its 37 targets at least a year old were reached within 12 months (#15 of 26 firms); on AMD, 3 of 3. Accuracy ranking →

Piper Sandler on AMD

Piper Sandler price targets on AMD

8 calls from November 5, 2025 to November 4, 2026. The target went from $280 to $650 (+132%). The rating stayed Buy.

Piper Sandler targetAMD share price
  1. November 4, 2026Target raised from $600 (+8%)Buy$650
  2. September 15, 2026Kept the $600 targetBuy$600
  3. September 10, 2026 This noteTarget raised from $300 (+100%)Buy$600
  4. February 4, 2026Kept the $300 targetBuy$300
  5. February 4, 2026Kept the $300 targetBuy$300
  6. January 26, 2026Target raised from $280 (+7%)Buy$300
  7. November 12, 2025Kept the $280 targetBuy$280
  8. November 5, 2025Earliest call shownBuy$280
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Other analysts on AMD

JP MorganHold Raised price target +5%, kept rating Nov 4 $575from $550 UBSBuy Cut price target −4%, kept rating Nov 4 $700from $730 Melius ResearchBuy Raised price target +8%, kept rating Nov 4 $650from $600 SusquehannaBuy Kept rating and price target Nov 4 $650maintained William BlairHold Kept rating Nov 4
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.