Oppenheimer Upgrades AMD to Outperform with $600 Price Target
Oppenheimer has upgraded Advanced Micro Devices (AMD) from 'perform' to 'outperform,' setting a price target of $600. This upgrade suggests a potential 34% upside for the chipmaker, following recent bullish earnings and positive sentiment regarding its AI compute capabilities. Analyst Rick Schafer highlighted AMD's emergence as a durable supplier in the data center market, supported by multi-generation customer wins and Helios rack-scale solutions. The firm anticipates significant growth driven by the Instinct product cadence and advancements in open software stacks. Key future catalysts include a strategic partnership with Anthropic expected to ramp up in early 2027 and the launch of MI500 GPUs for high-performance computing in the second half of 2027. Oppenheimer models data center revenue growth of 135% by 2027, driven by increased server CPU market share.
Tickers: $AMD
Topics: AI Compute Analyst Upgrade Data Center GPU Semiconductors
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