Wedbush analysts late Tuesday raised their target price on Advanced Micro Devices Inc (NASDAQ:AMD, ETR:AMD) (AMD) to $290 per share from $270, after the company reported better than expected earnings and revenue for its third quarter 2025.
AMD posted adjusted earnings per share (EPS) for the quarter of $1.20 on revenue of $9.25 billion.
Analysts, on average, were anticipating EPS of $1.16 and $8.74 billion in revenue.
In a note to clients, the Wedbush analysts wrote that AMD’s upside was driven by Data Center and PC sales, a trend that is expected to continue into Q4 and 2026 as incremental Cloud Service Provider compute is being driven by AI needs.
They added, however, that much of AMD's valuation is dependent on the company’s ability to execute on its AI strategy, with its Q3 results providing minimal insight into those initiatives.
The analysts at Wedbush believe any commentary concerning future AI expectations at the company’s Analyst Day next week will arguably be more impactful for AMD’s stock price.
AMD shares slipped 1.3% to $246.87 in early trading on Wednesday.