Evercore ISI analyst Mark Lipacis raised the firm’s price target on AMD (AMD) to $270 from $240 and keeps an Outperform rating on the shares. Q3 results outpaced expectations on revenue and EPS, although Q4 EPS guidance fell slightly short due to higher operating expenses and share count, notes the analyst, who sees AMD being “well-positioned for growth” given significant visibility into upcoming data center GPU ramps and strong demand for server CPUs driven by AI workloads.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMD:
- Morning Movers: Sleep Number, Pinterest plummet after earnings
- Nvidia Stock (NVDA) Forecast! Why the Recent Pullback Could Be a Big Buy Opportunity
- Video: AMD, Pinterest move lower after earnings
- Notable open interest changes for November 5th
- China Orders State Projects to Use Local AI Chips, Leaving Nvidia, AMD, and Intel at Risk