Citigroup Boosts AMD Buy Rating, Raises Price Target to $575
AMD•Citigroup raised AMD’s rating to Buy from Neutral and lifted its price target to $575 from $460, citing unpriced GPU upside and robust AI-driven sales growth. Pre-market trading showed a 1.6% uptick following a 128% year-to-date gain, while short interest jumped 21.9%.
1. Citigroup Raises Rating and Price Target
Citigroup upgraded Advanced Micro Devices to Buy from Neutral and raised its price target to $575 from $460, citing unpriced upside in graphics processing units and strong AI-driven sales growth.
2. Stock Performance and Pre-Market Reaction
Shares gained 1.6% in pre-market trading, set to open near $500 after a year-to-date rally of 128% and recovery from a mid-May pullback around $400.
3. Trading Sentiment and Volatility Metrics
Short interest rose 21.9% over the past two reporting periods, while the stock’s Schaeffer’s Volatility Scorecard stands at 95, indicating historically elevated realized volatility.
