Stifel Reaffirms Buy on AMD, $635 PT
Stifel analyst Ruben Roy reiterated a Buy rating and $635 price target on AMD (NASDAQ: AMD).
“We hosted an investor dinner with AMD’s Matt Ramsey (CVP, Investor Relations) and Prabh Gowrisankaran (Director IR) on the sidelines of various investor conferences that took place this week.
AMD’s tone, which we view as consistent with peers, remains confident and, notably, more expansive on server CPU than on GPU, though we are optimistic on both elements of the company’s DC business.
A core message at our dinner was that the shift from chatbot inference to agentic inference has structurally re-rated the CPU TAM; AMD believes it has the best agentic CPU (Venice) and the supply to ship it, and the binding constraint on 2027 is the industry’s ability to build servers rather than demand.
MI450/ Helios begins revenue shipments this month, on time and alongside NVDA’s VR ramp.
We came away incrementally more constructive on the durability of the EPYC ramp and reiterate our Buy rating and $635 target.”
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.
