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Investing.com - Truist Securities has reiterated its Buy rating on Advanced Micro Devices (NASDAQ:AMD) stock, maintaining its price target of $213.00. Currently trading at $159.74, AMD has shown remarkable momentum with a 61% surge over the past six months. According to InvestingPro data, the stock currently trades above its Fair Value, reflecting strong market optimism.
The firm’s decision comes after receiving feedback from industry contacts suggesting a shift in how customers perceive AMD in the datacenter and AI markets. According to Truist Securities, customers who previously viewed AMD merely as a "price check" now see the company as a "real potential partner." This perception shift comes as AMD demonstrates strong financial health, with InvestingPro analysis showing 27% revenue growth and robust liquidity, maintaining a healthy current ratio of 2.49.
Truist Securities recently upgraded AMD based on these industry insights from component buyers and sellers, indicating growing customer traction for the semiconductor company’s offerings.
The investment firm further reinforced its constructive view following a recent dinner with AMD management, which apparently validated their positive outlook on the company’s prospects.
Truist Securities maintains its calendar year 2027 earnings per share estimate for AMD at $7.89, alongside the $213 price target and Buy rating.
In other recent news, Advanced Micro Devices (AMD) has been in the spotlight with several significant developments. Mizuho has raised its price target for AMD to $205 from $183, maintaining an Outperform rating. The firm adjusted its revenue and earnings per share estimates for AMD’s September quarter to $8.80 billion and $1.15, respectively, slightly above consensus estimates of $8.71 billion in revenue and $1.17 earnings per share. Meanwhile, Seaport Global Securities downgraded AMD’s stock rating from Buy to Neutral, expressing concerns about the company’s AI accelerator business and its ability to convert evaluation systems into volume orders.
Additionally, AMD announced a strategic partnership with IBM to develop next-generation quantum-centric supercomputing architectures. This collaboration aims to integrate AMD’s CPUs, GPUs, and FPGAs with IBM’s quantum computers to tackle complex algorithms. In corporate news, AMD’s Chief Accounting Officer, Philip Carter, announced his resignation, effective September 5, to become Chief Financial Officer at another company. The company clarified that his departure is not due to any disputes or disagreements with AMD.
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