KeyBanc Upgrades AMD and Intel on Cloud-Driven Demand

KeyBanc Capital Markets upgraded Advanced Micro Devices (AMD) and Intel (INTC) to Overweight after Asia checks, citing solid data-center/cloud demand and memory constraints. AMD raised its 2025/2026 earnings forecasts to $4.01 and $7.93 with a $270 target (about 30% upside); Intel’s 2026 EPS was raised to $0.66 with a $60 target (about 50% upside), led by strong adoption of its latest server chips at major cloud providers like AWS. Wall Street consensus shows AMD with a Strong Buy (avg target ≈$283.90, ~37% upside) and Intel with a Hold (avg target ≈$40.64, ~8% downside).