Stifel analyst Ruben Roy raised the firm’s price target on AMD (AMD) to $280 from $240 and keeps a Buy rating on the shares. After AMD delivered “strong, above consensus” Q3 results and a Q4 outlook, the firm said it believes near-term outperformance is being driven more by increasing demand for server CPUs and continued market share gains in client CPUs than data center AI GPUs. The firm continues to believe that AMD is executing well as the company nears production shipments of the MI400/450 series GPUs and the Helios rack next year, the analyst added.
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