Susquehanna analyst Christopher Rolland increased Advanced Micro Devices (AMD) price target. The target moved from $450 to $500. Rolland maintained a "Positive" rating on the stock. AMD shares rose over 6% in pre-market trading following the upgrade.
Rolland based the upgrade on expected strong performance and guidance. AMD's data center business primarily drives this outlook.
Rolland highlighted robust demand for AMD's EPYC server CPUs. He also anticipates a significant revenue ramp from its MI450/Helios data center GPUs. This ramp is expected in late 2026.
Broadening customer adoption for AMD's AI accelerators also contributes to the positive outlook. A major infrastructure agreement with Anthropic underscores this adoption. AMD's earnings report is scheduled for August 4.