Advanced Micro Devices, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Joshua Buchalter from TD Cowen reiterated a Buy rating on the stock and has a $290.00 price target.
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Joshua Buchalter has given his Buy rating due to a combination of factors, including AMD’s strategic partnerships and product momentum. The company’s recent collaboration with OpenAI and the anticipated launch of the MI450/Helios are significant indicators of growth potential. AMD’s Instinct family is gaining traction, and the company is poised to capitalize on the AI compute market. Additionally, AMD’s server and client CPU segments are showing strong momentum, with expectations for above-seasonal growth driven by demand for larger CPU buildouts.
Furthermore, Buchalter highlights AMD’s ability to deliver strong financial performance, with a projected earnings per share of over $10 by 2027 under conservative assumptions. Despite the stock’s recent rally, he sees continued value in AMD’s shares, supported by the company’s efforts to expand its datacenter GPU business and its partnerships with major players like OpenAI. These factors collectively reinforce his confidence in AMD’s growth trajectory and justify the Buy rating.
In another report released yesterday, Roth MKM also maintained a Buy rating on the stock with a $300.00 price target.
Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AMD in relation to earlier this year.