AMD Stock Recovers From a 17% Rout as Oppenheimer Upgrades…
By Tobi Opeyemi Amure
AI summary of the source article
AMD shares recovered from a 17.26% post-earnings sell-off, reaching $469.19 in premarket trading. The rebound followed Oppenheimer upgrading the stock to Outperform with a $600 price target.
Why it matters
Oppenheimer’s $600 target is the first analyst move made with the rout and the quarter both visible, so it carries more information for AMD stock than the $800 Citi set in early October.
Key facts
- AMD reported third-quarter revenue of $13.4 billion, up 45% year-over-year, led by record Data Center revenue of $8.5 billion.
- Oppenheimer raised AMD from Perform to Outperform with a $600 price target, projecting 135% data center revenue growth in 2027.
- AMD provided fourth-quarter revenue guidance of approximately $17 billion, plus or minus 3%.
Source excerpt · FinanceFeeds
AMD stock traded at $469.19 in Monday’s premarket, up 4.49%, after closing Friday at $449.04 for an 11.04% gain. The two sessions together recover the 17.26% fall that took the shares to $404.40 on 5 November, two days after a quarter that beat on every headline line. Oppenheimer upgraded the stock to Outperform on Monday morning with a $600 price target, and Lisa Su spent the back half of last we…