Baird AMD

Baird Keeps Outperform on AMD, $1,250 Price Target

Analyst: Tristan Gerra 1 min read Reproduced verbatim
Rating
Outperform
Unchanged
Target
$1,250
Unchanged
Upside
+158%
AMD at $484 today
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What the analyst said

Baird analyst Tristan Gerra reiterated an Outperform rating and $1,250 price target on AMD (NASDAQ: AMD).

“Server revenue guidance was raised to an over 2x increase for 2027 YoY, up from prior-quarter guidance of up over 70% as AMD has secured more supply and AI demand continues to accelerate both in consumer and enterprise, notably driven by agentic workloads.

Server CPU revenue guidance up >2x for 2027 highlights ongoing and significant share gains, with AMD well positioned from a wafer fungibility standpoint between clients and servers. Outperform-rated

AI-related revenue accelerated QoQ throughout this year, providing management confidence to guide total revenue up at least 80% YoY for 2027 and data center-related revenue exceeding 80% of total revenue, with server revenue now guided for an over 2x increase in 2027 YoY, up from prior quarter guidance of up over 70% as AMD has secured more supply.

We maintain our AI revenue forecast of $41.8B for 2027, up almost 2.6x YoY and following a 2.3x guided increase for 2026 YoY.

Driven by agentic workloads, server CPU revenue growth guidance leads to our $35.5B estimate for 2027, suggesting ongoing significant share gains, with agentic AI a factor driving higher channel count demand which benefits pricing.

Management sees a $220B server CPU TAM by 2030.”

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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 $1,250 target is 85% above the median, the highest on the Street.

12-month window: day 0 of 365, closes on November 4, 2027.

Track record

This callOpen: a 12-month target, scored on November 4, 2027, a year after the note.

Firm track recordBaird: 90% of its 29 targets at least a year old were reached within 12 months (#1 of 26 firms); on AMD, 2 of 2. Accuracy ranking →

Baird on AMD

Baird price targets on AMD

7 calls from May 7, 2025 to November 4, 2026. The target went from $140 to $1,250 (+793%). The rating stayed Buy.

Baird targetAMD share price
  1. November 4, 2026 This noteKept the $1,250 targetBuy$1,250
  2. July 24, 2026Target raised from $625 (+100%)Buy$1,250
  3. May 6, 2026Target raised from $300 (+108%)Buy$625
  4. November 5, 2025Target raised from $240 (+25%)Buy$300
  5. October 7, 2025Target raised from $140 (+71%)Buy$240
  6. June 12, 2025Kept the $140 targetBuy$140
  7. May 7, 2025Earliest call shownBuy$140
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Other analysts on AMD

JP MorganHold Raised price target +5%, kept rating Nov 4 $575from $550 Piper SandlerBuy Raised price target +8%, kept rating Nov 4 $650from $600 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
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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.