Wells Fargo Analyst Sets High Price Target for AMD

by Maya Lundqvist

2 hours ago

Wells Fargo has issued a bullish forecast for Advanced Micro Devices (AMD), projecting a significant increase in its stock price. Analyst Aaron Rakers believes that AMD's current trading levels present a lucrative opportunity for investors. According to analysts cited in the report, the outlook is promising.

Rakers Sets Price Target for AMD

Rakers has set a price target of $345 for AMD, indicating a potential upside of 49% from its current price of $231.83. This optimistic assessment is bolstered by AMD's impressive performance in the artificial intelligence sector, which has become a key growth area for the company.

Other Financial Institutions Raise Price Targets

In addition to Rakers' forecast, other financial institutions such as

UBS
Piper Sandler

have also raised their price targets for AMD. This trend reflects a growing confidence among analysts regarding AMD's future prospects, particularly following the company's record data center revenue of $4.3 billion in the third quarter. As the demand for AI technologies continues to rise, AMD appears well-positioned to capitalize on these market opportunities.

Intel Corporation recently saw a significant stock surge due to positive analyst upgrades, contrasting with AMD's bullish forecast from Wells Fargo. For more details, see more.