The shares of Advanced Micro Devices (NASDAQ:AMD) are 2.8% higher to trade at $167.92 before the bell, after an upgrade from Truist Securities to "buy" from "hold," and a price target hike to $213 from $173. The brokerage said improving industry sentiment and the company's AI prospects were the main catalysts for the bull note.
AMD has cooled off since tapping an Aug. 13, 52-week high of $186.65, but the supportive $160 level captured its most recent pullback. The equity yesterday marked its seventh loss in eight sessions, deepening its 7.3% month-to-date deficit. Advanced Micro Devices stock is up 35.2% in 2025, however.
Analysts leaned bullish on AMD heading into today, but there is still room for bull notes that could create tailwinds. Specifically, 15 of the 44 brokerages in coverage still sport a "hold" recommendation.
Options traders are pricing in relatively low volatility expectations, per AMD's Schaeffer's Volatility Index (SVI) of 42% that ranks in the 13th percentile of readings from the past 12 months.
It's also worth noting that the stock has tended to outperform these volatility expectations, per its Schaeffer's Volatility Scorecard (SVS) of 89 out of 100.
