As previously reported, Truist upgraded AMD (AMD) to Buy from Hold with a price target of $213, up from $173. Industry contacts have told the firm for the last few years that hyperscale customers deploying AI were experimenting with AMD’s technology as a “price check” to Nvidia (NVDA), “nothing more,” but contacts over the last month have increasingly noted that hyperscalers now are working with AMD in a partnership manner, the analyst tells investors. The firm, which notes that contacts indicate that hyperscale datacenter customers are now “expressing true interest in deploying AMD at scale,” sets a calendar year 2027 EPS estimate at $7.89.
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