Piper Sandler raised the firm’s price target on AMD (AMD) to $280 from $240 and keeps an Overweight rating on the shares. The firm notes AMD reported a solid quarter, beating across all metrics and importantly in the data center line item. Currently, the GPU server business is smaller than the EPYC server business, but Piper expects a crossover in late 2026 with the OpenAI deal in Q4 2026. Overall, the firm is impressed by the results and continues to believe that AMD will make progress in DC through 2026.
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