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Raymond James lifts AMD to Strong Buy and raises price target
The firm’s new $641 target implies about 40% upside, after AMD’s post-earnings dip earlier this month and results that beat consensus for both revenue and non-GAAP EPS.
Raymond James upgraded AMD to a Strong Buy from Outperform and raised its price target to $641 from $565, a change that assumes about 40% upside from current levels, according to analysis shared by Yahoo Finance. Yahoo Finance notes that Raymond James placed the target above the peer average of $613 and pointed to AMD’s AI chip positioning, including its data center CPU and accelerator lineup, as drivers for future earnings leverage. The outlet also highlights that AMD beat Wall Street expectations in its second-quarter results, reporting record non-GAAP earnings per share of $1.66 versus $1.61 expected, and revenue of $11.5 billion, up 50% year over year and above the roughly $11.34 billion consensus estimate. Yahoo Finance further reports that the Data Center segment powered those results, with Data Center revenue more than doubling year over year to $6.7 billion, driven by demand for EPYC server CPUs and Instinct AI accelerators, and that AMD projected 2026 second-half server CPU revenue growth of 80% year over year. It also said AMD plans to grow data center revenues to more than double in 2027, with AI GPUs growing well over 100%, and it unveiled next-generation products including the Instinct MI450 Series GPUs and 6th Gen EPYC Venice CPUs, with Microsoft set to deploy its Helios rack-scale AI systems across Azure AI services beginning in the second half of 2026.