AMD Shares Surge Over 4% as Citi and HSBC Raise Targets
TradingKey - On Thursday, AMD’s stock surged over 4%, rising as high as 5% intraday before closing at $144.22.
(Source: TradingKey)
Citi analyst Christopher Danely raised AMD’s price target from $120 to $145, citing a gradual recovery in semiconductor orders, strong end-market demand, and a restocking trend among enterprises that favors AMD’s business outlook.
Additionally, HSBC upgraded AMD’s rating from "Hold" to "Buy" and doubled its price target from $100 to $200. The firm attributed this move to the improved performance competitiveness of AMD’s next-generation AI chip series MI350, which offers premium pricing advantages and potential market share gains.
Meanwhile, market consensus expects AMD’s Q2 earnings report on August 5 to show revenue of $7.41 billion (EPS: $0.49 ). A beat could further boost shares.
Data indicates AMD’s current P/E ratio stands at 101.36x (near historical highs). Yet, it has delivered a 19.28% return over the past six months, reflecting investors’ high expectations for the AI sector and sustained investment enthusiasm.
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