Citi and BofA Raise AMD Ratings and Targets as Stock Nears Yearly Peak

Analysts point to underpriced GPU potential and a much larger server‑CPU market driven by agentic AI as reasons the shares could reprice.

Overview

Citi upgraded AMD to Buy on June 12 and set a $575 target while Bank of America on June 11 raised its target to $560 and kept a Buy rating.
The moves cite stronger-than-expected GPU opportunity and the chance to win big cloud customers such as Meta, which Citi says AMD is well placed to capture.
Bank of America raised its 2030 server‑CPU total addressable market to more than $170 billion, forecasting growth tied to the rise of agentic AI.
Shares moved higher on Monday, opening at $511.57 with a roughly 4.7% gain and trading closer to a 52-week high of $546.44.
The upgrades follow a solid Q1 beat and heavy insider selling: AMD reported $1.37 EPS and $10.25 billion revenue, CEO Lisa Su sold 125,000 shares on June 10 under a Rule 10b5-1 plan, and insiders disposed of about 372,032 shares worth roughly $158.7 million over 90 days which tempers some investor enthusiasm.