Advanced Micro Devices Inc. AMD, -3.82% shares are up 3.7 in Friday trading after Stifel analyst Kevin Cassidy raised his price target to $17 from $14. "We continue to see AMD meeting its product introduction milestones which is increasing their customers' confidence in adopting AMD CPUs and GPUs," he wrote. "Now we see end demand forecasts for PCs, servers and graphics add-in-cards as increasing." Cassidy, who has a buy rating on AMD's stock, said he's encouraged by the recent introduction of a new Cisco server platform that uses AMD's Epyc 7000 series processors. "We believe other server OEMs have realized the benefits of EPYC and will be making similar announcements soon," Cassidy wrote. Shares are up 26% over the past 12 months, while the S&P 500 SPX, -2.37% has gained 11% and the PHLX Semiconductor Index SOX, -2.45% has risen 26%.