AMD upgraded to Outperform at Baird on strong reception of Genoa

As previously reported, Baird analyst Tristan Gerra upgraded AMD to Outperform from Neutral with a price target of $100, up from $65. His supply chain checks highlight "strong reception" of Genoa at data center makers, which are shifting significant resources in support of AMD. The Genoa chip’s "very significant" performance step up should accelerate market share gains for AMD in 2023 and come along with significantly higher pricing and a higher gross margin profile, Gerra argues in his upgrade note to investors.