Hedge funds are buying these two big tech stocks while selling two rivals
Investing.com - Evercore ISI has raised its price target on AMD (NASDAQ:AMD) to $283.00 from $270.00 while maintaining an Outperform rating on the stock. The chipmaker currently trades at a P/E ratio of 127.75, significantly above industry averages according to InvestingPro data.
The research firm cited increased confidence in AMD’s MI450 product ramps and market share gains as key factors behind the adjustment. This aligns with AMD’s impressive 31.83% revenue growth over the last twelve months, positioning the company as a prominent player in the Semiconductors industry with a market capitalization of $386.69 billion.
Evercore ISI expressed some skepticism about OpenAI fully ramping to its complete 6GW potential, but believes OpenAI will deploy AMD solutions in volume.
Based on these developments, the firm has increased its earnings per share estimates for calendar years 2027 and 2029 to $9.77 and $14.64, respectively, up from previous estimates of $9.35 and $11.84.
The new price target of $283 reflects a 32x multiple on Evercore’s calendar 2027 EPS estimate, discounted back one year.
In other recent news, AMD has been the focus of several analyst evaluations following its 2025 Financial Analyst Day. Jefferies reiterated its Buy rating on AMD, maintaining a price target of $300. The firm emphasized AMD’s optimistic outlook across all business segments and highlighted the company’s projection of the AI silicon total addressable market reaching over $1 trillion by 2030. Meanwhile, Goldman Sachs maintained a Neutral rating with a $210 price target, noting AMD’s long-term financial targets exceeded expectations, driven by anticipated growth in the Datacenter segment. Deutsche Bank also reiterated a Hold rating with a $250 price target, describing AMD’s analyst meeting as "very constructive" with significant raises in key financial targets compared to 2022. These developments reflect varied perspectives among analysts, with a focus on AMD’s strategic positioning in AI and datacenter growth.
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