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Wells Fargo raised its price target for AMD from $505 to $615.
Wells Fargo raised its price target for AMD from $505 to $615 and maintained an "Overweight" rating on the stock.
The firm stated that strong demand for EPYC server CPUs, along with pricing upside, drove the upward revision to earnings estimates. Meanwhile, Wells Fargo still maintains a higher-than-consensus revenue forecast for data center GPUs. AMD's earnings per share estimates for 2027 and 2028 were raised to $13.40 and $18.75, respectively.