AMD (AMD) Price Target Raised to $575 After Upgrade by Citi

AI Summary

Citi analyst Atif Malik upgraded AMD (AMD) to Buy from Neutral, raising the price target from $460 to $575. Shares increased by 4.73% following the announcement, indicating more than a 17% upside potential. Malik highlighted increased confidence in AMD's GPU business, forecasting $33 billion in AI GPU revenue by 2027 and $50.8 billion by 2028. The upgrade emphasizes a significant discrepancy between market pricing and Citi's revenue expectations, specifically regarding AMD's perception as a key player in the GPU market.