AMD Stock Upgraded to Buy with Street-High Price Target by Top Analyst
Wolfe Research analyst Chris Caso has upgraded Advanced Micro Devices (AMD) to a 'Buy' rating, setting a Street-high price target of $300—a 38.6% upside from current levels. The MOVE comes ahead of third-quarter semiconductor earnings and hinges on AMD's multibillion-dollar AI chip deal with OpenAI.
Caso, ranked among the top 2% of analysts by TipRanks, cites AMD's forthcoming MI450 AI chips as a game-changer. The OpenAI partnership alone could generate $15 billion in annual revenue, with total AI-related sales reaching $27 billion by 2027. This positions AMD for $10+ earnings power within three years.
The deal marks a strategic pivot toward AI infrastructure at scale. While traditional server demand remains robust, AMD's ability to execute on its AI roadmap now dictates its path to the $300 valuation.
