Oppenheimer upgrades AMD to Outperform with $600 target, citing booming data‑center business
Oppenheimer raised AMD’s rating to Outperform and set a $600 price target, citing a record third‑quarter and rapid data‑center growth. The firm expects data‑center revenue to surge 135% by 2027 and to represent about 85% of total sales. AMD reported Q3 revenue of $13.4 billion, up 45% YoY, with data‑center sales nearly doubling to $8.5 billion. The upgrade follows the earnings release and includes a note on warrants that could add 320 million shares if AI customers exercise them.
Why it matters
Oppenheimer’s upgrade implies roughly 34% upside from the Friday close of $449.04, which could lift the stock price (the firm’s note says the target implies that upside). The expected data‑center revenue expansion and the large warrant issuances may affect future earnings per share and dilution risk, as highlighted by Bank of America.
Key facts
- 1Rating upgraded to Outperform with a $600 price target. finance.biggo.com
- 2Implied upside of about 34% versus Friday’s close of $449.04. finance.biggo.com
- 3Data‑center revenue projected to grow 135% in 2027. finance.biggo.com
- 4Data‑center revenue expected to account for about 85% of total sales in 2027. finance.biggo.com
- 5Q3 revenue rose 45% YoY to $13.4 billion. finance.biggo.com
- 6Q3 data‑center sales increased 97% YoY to $8.5 billion. finance.biggo.com
Summary written by AlphAI AI Desk from 16 of 16 sources. Not investment advice. Figures are as stated by the linked sources.