TECH - AMD's Rising Star - What's Behind Goldman Sachs' Surprising Price Target Increase? | Benzinga
Goldman Sachs analyst Toshiya Hari maintained Advanced Micro Devices Inc (NASDAQ: AMD) with a Buy and raised the price target from $137 to $157.
Hari increased his 2024 and 2025 revenue estimates for AMD by 7% and 10%, respectively, as he reflected on last week's supply chain checks that indicated broad-based adoption of the company's MI300 Data Center GPU offering across the cloud and enterprise markets.
Precisely, for Data Center GPUs, the analyst now models 2023, 2024, and 2025 revenue of $595 million, $4.0 billion, and $7.9 billion, respectively.
Hari's 2024 and 2025 adjusted EPS (excluding SBC) estimates increase 11% and 12% from $3.88 and $6.40 to $4.30 and $7.18, respectively, on higher revenue and higher gross margin ...