TD Cowen analyst Joshua Buchalter maintained a Buy rating on Advanced Micro Devices (AMD – Research Report) yesterday and set a price target of $135.00.
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Joshua Buchalter has given his Buy rating due to a combination of factors related to Advanced Micro Devices’ strategic positioning and future potential. Despite some immediate challenges, such as lowered estimates in the data center GPU sector and ongoing weakness in certain segments like Gaming and Embedded, Buchalter sees significant promise in AMD’s future growth trajectory. The anticipated advancements in their MI355 GPU and its accelerated timeline, coupled with the broadening customer demand, are notable positives.
Furthermore, AMD’s expanding CPU market share, especially in the Server and Client sectors, and its strong relationships with key hyperscale customers, suggest a robust potential for growth in the AI market. The company’s ongoing improvements in its software ecosystem, particularly with the ROCm stack, are expected to enhance its competitive edge. These factors contribute to a positive long-term outlook for AMD, justifying the Buy rating with a price target set to $135.
In another report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $140.00 price target.