TECH - AMD's Success in Cloud Expansion - This Analyst Sees Potential for Market Leadership | Benzinga
KeyBanc analyst John Vinh maintained an Overweight rating on Advanced Micro Devices, Inc (NASDAQ:AMD) with a price target of $270.
The analyst said AMD grew modestly in February, as Genoa’s growth remained strong.
AMD processor instances were +1% month-on-month (M/M), +24% Y/Y, compared with January (+1% M/M,+35% Y/Y).
Genoa instance growth remained strong (+19% M/M), led by Amazon.Com Inc (NASDAQ:AMZN) AWS, after growing +13% M/M in January. Rome was +1% M/M,+14% Y/Y.
AMD’s price target is $270, based on 30x Vinh’s 2025 EPS estimate of $9.05. AMD is trading at 21x Vinh’s 2025 EPS estimate and 38x the 2025 consensus EPS estimate compared to its peers, trading at an average consensus 2025E P/E multiple of 34x.
Vinh’s February results showed a continued ...