AMD Stock Upgrades and Price Targets Raised on Bullish AI Opportunity, Though Competitive Concerns Remain
• HSBC upgrades AMD to Buy rating and raises price target to $225 on huge AI market opportunity
• BofA remains positive on AMD though concerned about competitive response in AI accelerators
• Morgan Stanley sees AMD's AI exposure as key upside driver, but questions how AMD will respond to NVIDIA's pricing
• HSBC believes AMD can surpass $3.5B AI revenue guidance for 2024 and take 10% AI GPU market share by 2025
• Momentum expected to improve for AMD's non-AI segments in 2H 2023 and 1H 2024