This article first appeared on GuruFocus.

Advanced Micro Devices (NASDAQ:AMD) received a higher price target from Wedbush after the brokerage raised its forecasts for the company’s data center business, citing stronger demand for AI chips and expanding enterprise partnerships.

Wedbush maintained its Outperform rating and increased its price target to $600 from $450. The firm also lifted its financial estimates ahead of AMD’s scheduled second-quarter earnings report on Aug. 4, forecasting quarterly earnings of $1.64 per share on revenue of $11.4 billion.

For full-year 2026, Wedbush now expects AMD to generate $49.2 billion in revenue and $7.22 in earnings per share, up from prior estimates of…