AMD Price Target Raised
AMD price target raised.
Earlier today, Rosenblatt analyst Hans Mosesmann raised the AMD price target from $30 to $40. The reasoning behind this decision is that AMD keeps ramping up their 7nm GPU compute. Mr. Mosesmann said that AMD’s move is reminiscent of Nvidia’s transformation from a PC graphics model to a “compute powerhouse.”
This past month, Bank of America, Wells Fargo, and several other firms have been raising their AMD price target. They believe that AMD’s stock valuation is compelling relative to the growth opportunity.
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AMD shares have been on a tear this year. Year-to-date, AMD stock is up almost 150% from $12.55 to $30.54 at the time of this writing. While it is good that the upgrades are coming along these days, what was happening earlier this year?