Evercore ISI raised the firm’s price target on AMD (AMD) to $240 from $188 and keeps an Outperform rating on the shares. The firm, which views the Open AI deal as an endorsement of AMD’s technology and roadmap, thinks AMD’s five-year deal with OpenAI could add over $2 to AMD’s 2027 EPS and over $4 to its 2028 EPS estimate, the analyst tells investors. The agreement for Open AI to deploy 6GW of AMD Instinct GPUs over five years also provides AMD visibility into scaled deployments, which it could lever into other hyperscale customers, the analyst added.
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