What the analyst said
TD Cowen analyst Joshua Buchalter reiterated a Buy rating and $675 price target on AMD (NASDAQ: AMD).
“We think growing adoption of agentic AI and production inference workloads are increasingly supporting tangible use cases.
CPUs are seeing a resurgence driven by agentic AI workloads that require coordination of multi-step workflows, tool calls, API management, and sequential decision-making: characteristics well suited for CPUs.
Case in point, earlier this year AMD nearly doubled its CPU TAM to $220B and guided 2027 server CPU growth to +70% Y/Y.
We raise our AMD and Intel estimates modestly on continued DC-CPU strength.”
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Where the price stands
AMD trades at $538. The 26 analysts who set a target in the last 3 months range from $465 to $1,250, with a median of $680. This $675 target is 1% below the median.
12-month window: day 0 of 365, closes on October 19, 2027.
Track record
This callOpen: a 12-month target, scored on October 19, 2027, a year after the note.
Firm track recordTD Cowen: 86% of its 22 targets at least a year old were reached within 12 months (#11 of 28 firms); on AMD, 4 of 4. Accuracy ranking →
TD Cowen on AMD
TD Cowen price targets on AMD
8 calls from February 4, 2026 to October 19, 2026. The target went from $290 to $675 (+133%). The rating stayed Buy.
- October 19, 2026 This noteKept the $675 targetBuy$675
- August 5, 2026Kept the $675 targetBuy$675
- July 13, 2026Target raised from $600 (+13%)Buy$675
- June 1, 2026Target raised from $500 (+20%)Buy$600
- May 6, 2026Target raised from $290 (+72%)Buy$500
- February 25, 2026Kept the $290 targetBuy$290
- February 25, 2026Kept the $290 targetBuy$290
- February 4, 2026Earliest call shownBuy$290
Other analysts on AMD
MizuhoBuy
Raised price target +22%, kept rating · Oct 6
$705from $580
CitiBuy
Raised price target +39%, kept rating · Oct 6
$800from $575
StifelBuy
Raised price target +10%, kept rating · Oct 5
$700from $635
CantorBuy
Kept rating and price target · Oct 5
$700maintained
RosenblattBuy
Kept rating and price target · Sep 29
$700maintained