Today is AMD’s first ever Analyst Day. Wall Street is watching the catalysts.

Traders may keep an eye on updated financial targets from Advanced Micro Devices as it hosts its investor day, its first, later today.

AMD (AMD) shares rose on Monday ahead of the event, which some analysts suggested could be a positive catalyst for the chipmaker’s stock. Shares added about 5% to close near $244 as broader markets rose on optimism that Congress may be close to a deal to end the U.S. government shutdown.

Analysts at Bank of America, Citi and Jefferies said they would monitor updated forecasts and financial targets from AMD’s Analyst Day event. CEO Lisa Su is widely expected to provide more details about the company’s AI roadmap. (You can watch the broadcast scheduled for 1 p.m. ET here.)

Analysts said greater appreciation for AMD’s total addressable market, thanks to growing demand for AI, may help boost confidence in the stock, after a strong run this year driven recently by a series of large AI deals, including one with ChatGPT maker OpenAI.

Last week, AMD posted record quarterly results and an upbeat outlook on growing demand for its data center chips, though the stock was little changed after the results amid some concerns about an AI bubble.

Heading into the event, Wall Street analysts are leaning more bullish on the stock, with seven out of 10 labeling it with current ratings compiled by Visible Alpha as a “buy,” compared to three neutral ratings. Their average target around $269 suggests an upside of roughly 10% from Monday’s close.

With Monday’s gains, AMD shares will nearly double in value in 2025.