AMD (AMD) Stock: $140 Price Target And Overweight Rating

By Amit Chowdhry ● May 17, 2022
  • The shares of AMD (NASDAQ: AMD) have received a $140 price target from Piper Sandler. These are the details.

The shares of AMD (NASDAQ: AMD) have received a $140 price target from Piper Sandler. And Piper Sandler analyst Harsh Kumar upgraded AMD from a “Neutral” rating to an “Overweight” rating while increasing the price target from $98.

Kumar is using the recent share weakness to get constructive on the name again. And Kumar pointed out that AMD’s mid-to-long-term catalysts remain intact amid strong server trends, strong semi-custom trends, commercial PC growth that is offsetting consumer PC exposure, and Xilinx being impactful to growth. 

“There are two old sayings in the investment world: 1) ‘You cannot time the market, so do not try’ and 2) ‘Buy good companies when they are down.’ To these ends, we are upgrading shares of AMD to Overweight from Neutral and increasing our price target to $140 from $98. We are using the recent price action to get constructive on the name again, as our downgrade thesis of a slowing PC market and the lack of near-term accretion from Xilinx doesn’t appear to be playing out as expected,” wrote Kumar in a research note. “In addition, AMD’s mid-to-long-term catalysts remain intact: 1) strong server trends, 2) strong semi-custom trends, 3) commercial PC growth offsetting consumer PC exposure, and 4) Xilinx being impactful to growth. Finally, we note the company has an upcoming catalyst in its investor day in early June.”

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.