On behalf of Advanced Micro Devices Inc. (NASDAQ: AMD) The stock is indicating bullish sentiment, and several Wall Street analysts have reiterated their buy ratings and raised their 12-month price targets.
Vivek Arya, Analyst at Bank of America Corp (NYSE: Buck), maintained a buy rating on AMD shares, according to a note to clients dated July 14. Additionally, Arya raised the company’s 12-month price target on AMD shares to $620 from $550, suggesting an upside of 9.41%.
John Vinh, a Wall Street analyst at KeyBanc, reiterated a buy rating on AMD stock. Vinh raised his 12-month price target for Advanced Micro Devices Stocks to $725 from $530.
As a premier AI stock, AMD stock is well-positioned to attract investors seeking exposure to the ongoing AI boom. Furthermore, AMD is a top semiconductor stock with strong fundamentals.
AMD stock price forecast and performance
Following bullish sentiment from two senior analysts on Tuesday, the average rating for AMD from 36 analysts was “Strong Buy” according to… Data from TipRanks. Among Wall Street analysts surveyed, the highest 12-month forecast was $725 at press time.
With base and bearish forecasts of $531.78 and $250 respectively, Wall Street analysts have set an average price target for AMD of $531.78 for the next 12 months.
However, AMD shares were trading at around $554.03 at reporting time, up 138.98% year-to-date (YTD). As such, more Wall Street analysts could increase their 12-month price target for AMD over the coming days to match their strong buy rating. Furthermore, AMD’s 12-month price forecast indicates a potential decline of 4.03%.
As a semiconductor stock, AMD’s 12-month price target could be achieved if the AI bubble does not burst, and vice versa.
