Chip firm AMD's [AMD.O] shares rise 2.4% to $467.80 premarket
Raymond James upgrades to "strong buy" from "outperform"; raises PT to $641 from $565, implying a 40.3% upside to the stock's last close
Brokerage says AMD stands to benefit from demand for server CPUs, driven by agentic AI and inference
"We previously modeled GPUs overtaking CPUs in 4Q26, but with the inflection in CPU demand, we have deferred the revenue cross over. AMD’s growth should enable it to overtake Intel during 2027" - Raymond James
Average rating of 55 analysts is "buy"; their median PT is $594 - data compiled by LSEG
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