BNP Paribas raised its price target for Advanced Micro Devices (AMD) to $600 from $460. The firm maintains an outperform rating, positioning it among the most bullish on Wall Street.
The upgrade reflects a higher valuation premium for companies leading the artificial intelligence infrastructure buildout. Analysts do not base this move on expectations for immediate earnings surprises.
BNP Paribas anticipates the next major AI spending wave will begin in late Q3. The bank maintains confidence in the durability of AMD’s growth trajectory through 2027.