Wells Fargo Raises AMD Price Target Ahead of Earnings, Sees a Nearly 16% Gain for the Stock

Advanced Micro Devices stock rose on Wednesday on updated analyst coverage. Five-star Wells Fargo analyst Aaron Rakers reiterated a Buy rating and increased the stock’s price target to $185 from $120. This suggests a possible 15.6% upside for AMD stock.

The Wells Fargo analyst updated his price target for AMD stock ahead of the semiconductor company’s Q2 earnings report, which is set to be released after the market closes on Aug. 5, 2025. He expects the company to plot sustained datacenter movement in the second half of 2025, roadmap execution, and building its rack-scale strategy.

Rakers isn’t the only analyst who has updated their coverage of AMD stock ahead of earnings. Five-star Citi analyst Christopher Danely called the stock’s recent China AI chip rally “empty calories,” citing the ability for President Donald Trump to reinstate the processor ban at any time. On the flip side of that, five-star Bank of America Securities analyst Vivek Arya raised his price target for the shares to $175 from $130 and maintained a Buy rating as the ban was lifted.