AMD price target raised to $158 from $100 at Craig-Hallum

Craig-Hallum analyst Christian Schwab raised the firm’s price target on AMD to $158 from $100 and keeps a Buy rating on the shares after the company hosted a “Data Center and AI Technology Premiere” event where the company highlighted its next generation data center products and announced two new workload optimized 4th generation EPYC server CPUs. AMD also announced an expanded offering of GPU accelerators tailored for artificial intelligence and outlined the belief that the total addressable market for artificial intelligence focused accelerators can grow at a 50% compound annual growth rate from about $30B in 2023 to over $150B by 2027, the analyst noted. Craig-Hallum believes AMD is “very well positioned for the transformational artificial intelligence megatrend,” which remains in the very early innings, the analyst said following the company’s event.