The opinion of the company Advanced Micro Devices Inc. AMD) stock signals bullish sentiment, several Wall Street analysts have reiterated their Buy ratings and raised their 12-month price targets.
Vivek Arya, an analyst at Bank of America Corp. (NYSE: BAC), maintained a Buy rating for AMD stock, according to a note to clients on July 14. In addition, Arya raised the 12-month price target for AMD shares to $620 from $550, thus indicating a 9.41% upside.
John Vinh, Wall Street analyst at KeyBanc, reiterated his Buy rating for AMD property. Vinh raised its 12-month rate Advanced Micro Devices shares to $725 from $530.
As a major AI sector, AMD shares are poised to attract investors who want exposure to the ongoing AI development. Additionally, AMD is a leading semiconductor company with strong fundamentals.
AMD price and performance forecast
Following Tuesday’s opinion from two top analysts, AMD’s rating from 36 analysts was ‘Strong Buy’ according to data from TipRanks. Among Wall Street analysts, the highest 12-month forecast was $725 at the time of publication.
With initial and fixed expectations at $531.78 and $250, respectively, Wall Street analysts have set a price target for AMD at $531.78 for the next 12 months.
However, AMD shares traded at around $554.03 during the reporting period, up 138.98% year-to-date (YTD). Likewise, many Wall Street analysts may increase their 12-month price target for AMD in the coming days to support a Strong Buy rating. Furthermore, their 12-month AMD price forecast shows a downward trend of 4.03%.
As a major semiconductor sector, AMD’s 12-month target may be met if the AI bubble doesn’t burst, vice versa.
