AMD price target raised to $200 from $175 at Piper Sandler

Piper Sandler raised the firm’s price target on AMD to $200 from $175 and keeps an Overweight rating on the shares. After attending AMD’s artificial intelligence event, the analyst remains “enthused” about the company’s prospects, particularly around its data center and GPU offering. As expected, AMD launched its newest data center product including the MI325 GPU as well as the Turin CPU, the analyst tells investors in a research note. Piper says AMD increased its AI accelerator total addressable market expectations to $500B by 2028, from $400B by 2027. It feels AMD will have “significant share in this market.” The firm continues to see AMD as well positioned in the data center market and views the stock as its top large-cap pick.