Advanced Micro Devices (AMD – Research Report), the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Blayne Curtis from Jefferies maintained a Buy rating on the stock and has a $135.00 price target.
Blayne Curtis has given his Buy rating due to a combination of factors, including AMD’s strong performance in the Client and Server segments, which are currently outperforming expectations and gaining market share from competitors like Intel. Despite a recent slowdown in the AI segment, the anticipated ramp-up of the MI350x in the latter half of the year is expected to drive future growth.
Moreover, AMD’s recent financial results showed strength in the PC client business and gaming sectors, contributing to a revenue beat for the December quarter. Although there are concerns about the AI segment’s performance, Curtis sees the overall growth in AMD’s core businesses as a positive indicator for the company’s future performance, warranting a Buy rating.
Curtis covers the Technology sector, focusing on stocks such as Microchip, Nvidia, and Advanced Micro Devices. According to TipRanks, Curtis has an average return of 23.6% and a 63.17% success rate on recommended stocks.
In another report released today, Robert W. Baird also reiterated a Buy rating on the stock with a $175.00 price target.
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