Analog Micro Devices: Analyst Update Coverage After Earnings

Analog Micro Devices: Analyst Update Coverage After Earnings

Analysts Bullish on AMD as Earnings Momentum Continues

Advanced Micro Devices Inc. (AMD), has recently seen a wave of positive sentiment from financial analysts following its latest financial performance. The company’s second-quarter earnings report appears to have instilled confidence among analysts, leading to a series of target price upgrades and positive recommendations.

AMD Ratings by Stock Target Advisor

Analyst Recommendations:

  1. Roth MKM:
    • Rating: Buy
    • Previous Target: USD 125
    • New Target: USD 190
    • Date: 01/31/2024

Roth MKM has raised its target price from USD 125 to USD 190 while maintaining a Buy rating, indicating a positive outlook on AMD’s stock and the potential for further growth.

  1. Citigroup:
    • Rating: Buy
    • Previous Target: USD 136
    • New Target: USD 192
    • Date: 01/31/2024

Citigroup has maintained its Buy rating on AMD and raised the target price from USD 136 to USD 192, emphasizing a positive stance on the company’s growth prospects.

  1. KeyBanc Capital Markets:
    • Rating: Overweight
    • Previous Target: USD 195
    • New Target: USD 270
    • Date: 01/31/2024

KeyBanc Capital Markets has reiterated its Overweight rating and significantly raised the target price from USD 195 to USD 270, reflecting strong confidence in AMD’s performance.

  1. Susquehanna International Group:
    • Rating: Positive
    • Previous Target: USD 210
    • New Target: USD 200
    • Date: 01/31/2024

Susquehanna International Group has maintained a Positive rating on AMD, with a target price adjustment from USD 210 to USD 200, indicating continued optimism tempered by a slight adjustment.

  1. Northland Capital:
    • Rating: Outperform
    • Previous Target: USD 195
    • New Target: USD 195
    • Date: 01/31/2024

Northland Capital has upgraded its rating to Outperform and set a target price of USD 195, suggesting an improved outlook for AMD’s stock performance.

  1. Goldman Sachs & Co.:
    • Rating: Buy
    • Previous Target: USD 157
    • New Target: USD 180
    • Date: 01/31/2024

Goldman Sachs & Co. has maintained its Buy rating and raised the target price from USD 157 to USD 180, signaling confidence in AMD’s growth trajectory.

  1. Raymond James:
    • Rating: Outperform
    • Previous Target: USD 195
    • New Target: USD 180
    • Date: 01/31/2024

Raymond James has maintained its Outperform rating on AMD but lowered the target price from USD 195 to USD 180, indicating a positive sentiment with a slightly adjusted target.

  1. Wells Fargo & Company:
    • Rating: Overweight
    • Previous Target: USD 165
    • New Target: USD 190
    • Date: 01/31/2024

Wells Fargo & Company has raised its target price from USD 165 to USD 190 while maintaining an Overweight rating, showcasing optimism regarding AMD’s growth potential.

  1. Wedbush Securities:
    • Rating: Outperform
    • Target: USD 200
    • Date: 01/31/2024

Wedbush Securities has reiterated its Outperform rating on AMD and maintained the target price at USD 200, signaling a positive recommendation.

  1. J.P. Morgan Chase & Co:
  • Rating: Neutral
  • Previous Target: USD 115
  • New Target: USD 180
  • Date: 01/31/2024

J.P. Morgan Chase & Co has maintained a Neutral rating on AMD and raised the target price from USD 115 to USD 180, reflecting a more positive stance without a strong buy recommendation.

Conclusion: The recent string of target price upgrades and positive ratings from various financial analysts underscores the bullish sentiment surrounding AMD’s stock. As the semiconductor industry continues to evolve, analysts seem confident in AMD’s ability to capitalize on emerging opportunities and deliver sustained growth. Investors may find these revised targets valuable as they assess their investment strategies in the dynamic semiconductor market.

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