AMD Stock Eyes New Highs as TD Cowen, Cantor Fitzgerald Turn More Bullish

TLDR

• TD Cowen raised its AMD price target to $675 from $600, keeping a Buy rating
• AMD opened at $557.89 Monday with a market cap of $909.70 billion
• Q1 EPS of $1.37 beat estimates of $1.29; revenue of $10.25 billion topped the $9.90 billion consensus
• Quarterly revenue rose 37.8% year over year; analysts expect full-year EPS of $6.18
• Multiple firms including Cantor Fitzgerald ($700), Wells Fargo ($615), and Stifel ($635) have lifted price targets recently

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TD Cowen raised its price target on AMD to $675 from $600 on Monday, keeping its Buy rating intact. The move came as part of a broader Q2 earnings preview across the compute and networking semiconductor group.

Advanced Micro Devices, Inc., AMD

The firm said fundamentals in the space “remain firm” and pointed to major AI product launches in the second half of 2026 as key drivers for forward momentum. TD Cowen also flagged that CPU demand remains positive, bolstered by agentic AI.

AMD opened at $557.89 on Monday. The stock carries a market cap of $909.70 billion and a 12-month trading range of $141.60 to $584.73.

The 50-day moving average sits at $491.60, while the 200-day moving average is at $319.65 — giving some context to how far AMD has run in recent months.

TD Cowen is not alone in turning more bullish. Cantor Fitzgerald lifted its target to $700 from $500, giving AMD an Overweight rating. Wells Fargo moved its target to $615 from $505, also with an Overweight rating.

Stifel bumped its target to $635 from $450, citing AMD’s growing strength in AI servers and EPYC CPUs. Goldman Sachs has also turned more positive, pointing to surging agentic AI CPU demand.

Bank of America raised its target to $560 from $500 with a Buy rating back in June. JPMorgan, by contrast, moved to a Neutral rating with a $385 target — one of the more cautious calls on the street.

The consensus rating from MarketBeat sits at Moderate Buy, with an average price target of $458.92. Of 44 analysts tracked, 28 rate it Buy, 13 Hold, and one Sell.

Q1 Earnings Beat

AMD’s last quarterly report, released May 5th, came in ahead of expectations. The company posted EPS of $1.37 against an estimate of $1.29. Revenue hit $10.25 billion versus the $9.90 billion consensus.

Revenue grew 37.8% compared to the same quarter last year, when AMD earned $0.96 per share. Analysts now expect $6.18 EPS for the full year.

The next earnings report is expected around August 4th, with some on Wall Street anticipating a potential beat-and-raise quarter.

Institutional Activity

On the institutional side, Teachers Retirement System of Kentucky increased its AMD position by 1.8% in Q1, bringing its stake to 353,090 units worth roughly $71.8 million.

Norges Bank added a new AMD position worth nearly $4.93 billion in Q4. Jennison Associates grew its stake by 181.6% in the same period. Franklin Resources lifted its holding by 340.1%.

Institutional investors and hedge funds collectively own 71.34% of AMD’s outstanding stock.

On the insider front, EVP Paul Darren Grasby sold shares worth over $10.8 million in May, while EVP Mark Papermaster sold around $3.2 million worth in June under a pre-arranged 10b5-1 plan.

AMD also announced a new AI campus partnership, which added another avenue tied to large-scale AI infrastructure spending.