Evercore ISI analyst Mark Lipacis raised the firm’s price target on AMD (AMD) to $283 from $270 and keeps an Outperform rating on the shares. The firm came away incrementally positive towards AMD following its analyst day, where the company forecast a path to $20-plus EPS by the 2029 timeframe, the analyst tells investors. While the firm remains skeptical that OpenAI fully ramps to the full 6 GW potential, it does believe OpenAI does ramp AMD solutions in volume and was “encouraged” by management citing the expectation for multiple gigawatt-scale customers ramping with Mi450. The firm, which adds that its checks indicate AMD is gaining share, increased calendar 2027-29 EPS estimates following yesterday’s event.
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