Wall Street Upgrades: AMD, Meta, Amazon, Walmart, Palo Alto

Advanced Micro Devices (NASDAQ: AMD) received substantial analyst upgrades following its announcement of a long-term deal to become a key supplier to OpenAI’s AI infrastructure program. Mizuho analysts reiterated their outperform rating while raising their price target significantly from $205 to $275, highlighting the strategic importance of the OpenAI partnership. The collaboration is expected to generate billions of dollars in annual revenue for AMD, with the company projecting over $100 billion in total chip revenue over the coming years.

Barclays analysts echoed this optimism, raising their price target on AMD by $100 to $300. The substantial target increase reflects confidence that the OpenAI partnership is “designed to be mutually beneficial to OpenAI and AMD,” positioning AMD to capture significant value from the expanding artificial intelligence infrastructure market. The dual upgrades from major financial institutions underscore the transformative potential of AMD’s positioning in the AI chip space.

Citi analysts added a positive catalyst watch on Meta Platforms (NASDAQ: META), maintaining the stock as their top pick with a buy rating and $915 price target. The firm’s analysis indicates that Meta is gaining share of advertising budgets as newer products, including Business AI, launch in the market. The catalyst watch comes ahead of expected third-quarter 2025 earnings on October 29, with industry checks suggesting strong performance.

Technically, Meta appears to have found strong support at $717.48 per share, with analysts anticipating a potential rally to $780 in the near term. The positive outlook reflects Meta’s continued dominance in digital advertising and its successful integration of AI capabilities into its business products, positioning the company for sustained growth in the evolving digital landscape.

BTIG analysts upgraded Palo Alto Networks (NASDAQ: PANW) to a buy rating based on surprisingly positive feedback from partners. The firm conducted discussions with seven contacts representing approximately $1.2 billion in annual PANW sales, noting that the feedback “improved meaningfully from our work in prior quarters.” The stock has already demonstrated strong momentum, rallying from $165 to a high of $213.50, with analysts now eyeing a test of the $220 level.

Wolfe Research initiated coverage on Walmart (NYSE: WMT) with an outperform rating and $129 price target, citing accelerating market share gains and superior execution by management. Since bottoming around $96 in August, Walmart has climbed to $101 per share, with analysts expecting a retest of $106. The bullish rating reflects Walmart’s continued dominance in retail and its ability to out-execute peers in a competitive market environment.

BMO analysts reiterated their outperform rating on Amazon (NASDAQ: AMZN), maintaining the stock as a top pick despite acknowledging ramping competition and capacity constraints. The firm noted that third-quarter 2025 checks continue to support expectations for second-half 2025 AWS growth acceleration. After finding strong support around $219, Amazon has begun pivoting higher, trading at $220 with analysts targeting a retest of $240.

Wedbush analysts reinforced the positive sentiment, highlighting robust enterprise demand for Amazon’s artificial intelligence and cloud computing services. The firm believes tech stocks will have a very strong third-quarter earnings season “led by Big Tech as the cloud stalwarts Microsoft, Alphabet, and Amazon had very robust AI enterprise demand in the quarter based on our field checks.” According to Wedbush, the Street is still underestimating the magnitude of AI spending trajectory, expecting third-quarter tech earnings to serve as another validation moment with aggressive capital expenditure numbers extending into 2026.