AMD Pops as Citi Lifts Target to $145 Ahead of Q2 Earnings

Advanced Micro Devices AMD shares climbed about 2% in pre-market trading on Tuesday after Citi C analyst Christopher Danely raised his price target.

Danely lifted his target on AMD to $145 from $120 while maintaining a Neutral rating. He cited improving industry dynamics that could support chipmakers in the coming quarters.

Wall Street expects AMD to report second?quarter earnings on Aug. 5, with consensus estimates at $0.49 per share in EPS and $7.41 billion in revenue. Any beat on those forecasts may reinforce bullish sentiment.

Danely noted that end?market demand remains solid and companies appear to be rebuilding inventory, which may underpin AMD's growth. His revised outlook reflects a gradual rebound in semiconductor orders rather than a sharp turnaround.

The chipmaker industry has experienced stability after a long period of stagnation, and the expansion of AMD's roadmap for data centres and PC chips offers additional attractions to the company.

As the chip recovery drama continues, AMD may win more analysts if it exceeds expectations regarding future results.