Wall Street analysts are re-examining Advanced Micro Devices (NASDAQ: AMD) following the company’s third-quarter 2026 report, with some notable AMD stock price target revisions already coming in.
Notably, six major investment firms maintained bullish ratings on AMD, with price targets ranging from $605 to $1,250 on Wednesday, November 4.
The new calls were inspired not only by solid third-quarter results but also by a positive fourth-quarter and 2027 outlook, as accelerating demand for artificial intelligence (AI) and server CPUs strengthens market expectations.
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All of the discussion took place as AMD shares rose 7.35% in pre-market trading, where they sat at $519 at press time.
Baird maintains a Street-high AMD stock price target
Most notably, Baird reiterated its “Outperform” rating and Street-high $1,250 price target. The company highlighted AMD’s improved server revenue outlook, with management now expecting more than a doubling of server revenue in 2027.
The firm maintained its 2027 AI revenue forecast of $41.8 billion – nearly 2.6 times growth year-over-year (YoY). Further, its server CPU revenue estimate stands at $35.5 billion, reflecting expectations of continued market-share gains.
Truist Securities and Stifel raise AMD stock forecast
Truist raised its AMD share price target from $594 to $605, reiterating a “Buy” rating and citing stronger data center momentum and improving earnings expectations, in particular third-quarter data center revenue of approximately $8.5 billion and fourth-quarter guidance pointing to roughly 50% sequential growth.
Likewise, Truist pointed to management’s forecast for more than 80% revenue growth in 2027, with data center operations expected to account for more than 80% of total company revenue.
Stifel also increased its AMD forecast from $700 to $725, with a “Buy” rating. The research team also highlighted data center revenue growth of 97% year-over-year and noted that server revenue is expected to roughly double in 2027.
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AMD benefits from CPU demand, Jefferies and KeyBanc say
Next, Jefferies reiterated its “Buy” rating and $650 AMD share forecast, highlighting accelerating server CPU demand and expanding AI GPU deployments.
Specifically, the firm raised its 2027 server CPU growth outlook from 70% to 100% and forecast approximately $40 billion in server CPU sales next year.
Meanwhile, KeyBanc maintained its “Overweight” rating and $725 AMD stock price prediction, citing strong data center growth and the expected acceleration of AMD’s MI455/Helios AI platform.
In fact, the firm now expects AI-related revenue to increase sharply in the fourth quarter, potentially overtaking server CPU revenue.
Bernstein sticks with a $650 AMD stock price 2027 forecast
Finally, Bernstein reiterated its “Outperform” rating and $650 target, pointing to strong data center performance and fourth-quarter guidance that exceeded expectations.
In particular, the firm highlighted AMD’s $17 billion fourth-quarter revenue outlook, compared with Wall Street estimates of approximately $16.3 billion.
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Data center revenue is also expected to increase more than 50% sequentially to approximately $12.8 billion, significantly exceeding consensus expectations of around $11.5 billion.
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