Susquehanna lifts AMD price target to $620 as stock rallies on Vultr AI supercluster news
Susquehanna Securities increased its price target for Advanced Micro Devices (AMD) from $550 to $620, maintaining a Positive rating. The upgrade coincided with AMD shares climbing 1.3% to 2% after cloud provider Vultr announced plans to deploy AMD’s Instinct MI355X processors in an AI supercluster in India. The move comes ahead of AMD’s third‑quarter earnings scheduled for November 3.
Why it matters
The higher target suggests analysts see further upside for AMD amid growing AI infrastructure demand, which could support the stock ahead of earnings. Investors may price in the upgraded target and the Vultr partnership when evaluating AMD’s near‑term valuation.
Key facts
- 1Susquehanna raised AMD’s price target to $620, up from $550. investing.com
- 2AMD stock rose about 1.3% in morning trading. investing.com
- 3AMD shares rose roughly 2% after the Vultr announcement. gurufocus.com
- 4Vultr announced plans to use AMD’s Instinct MI355X processors in an AI supercluster in India. gurufocus.com
- 5Vultr announced plans to use AMD’s Instinct MI355X GPUs in a new AI supercluster. finance.yahoo.com
- 6AMD will report its third‑quarter earnings on November 3. gurufocus.com
Summary written by AlphAI AI Desk from 6 of 6 sources. Not investment advice. Figures are as stated by the linked sources.