AMD stock climbed by as much as 7% on Monday after two analysts boosted their price target. The new Ryzen chips are being launched, and it seems that things are going quite smoothly with the launch. Advanced Micro Devices will have only part of a quarter of Ryzen sales to show in its next earnings report, but it sounds like it could beat Wall Street’s estimates.

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Jefferies raises AMD stock target

In a research note dated March 20, Jefferies analyst Mark Lipacis reiterated his Buy rating and raised his price target for AMD stock from $13 to $16 per share following improved visibility into the launch of the Ryzen 7 and Ryzen 5 processors. He feels that the chip maker will be able to steal share from Intel in desktops, servers and notebooks starting this year because of its “ability to price between-the-seams while achieving competitive performance.”

AMD’s Ryzen 7 processors went on sale March 2, while the Ryzen 5 chips will become available on April 11. Price for the 7 lineup range from $499 to $329, while the Ryzen 5 chips are priced between $249 and $169. Lipacis expects less expensive Ryzen 3 chips to be announced later this year.

He noted that benchmarks indicate that the Ryzen 7 1800X processor outperformed Intel’s Core i7 6900K and costs less than half the price of the i7. Because of the better value proposition AMD’s chips offer, he expects them to gain share versus Intel. He’s expecting AMD to take 1% of the Performance Desktop, Notebook and Server marks this year and 4% next year.

Susquehanna also boosts AMD stock price target

In another research note also dated March 20, Susquehanna analyst Christopher Rolland launched his new series on the PC channel and supply chain. One of the highlights from the note was his boosted price target for AMD stock. He bumped it up to $12 from $9 per share, as he thinks the company stands a good chance of beating the Street’s estimate of a 5% increase quarter over quarter for the second quarter due to the “bona fide Ryzen roll-out.”

He noted that only the Ryzen 7 processors are available right now, and no major OEM is offering PCs powered by them yet. Sales of the chips are only starting to trickle in during the first quarter, but he adds that this sets a low bar for an easy comparison for the second quarter and creates the potential for upside. The second quarter will include sales of the Naples, Ryzen 5 and PCs from OEMs featuring the Ryzen chips. He continues to rate AMD stock at Neutral.

Shares of AMD stock jumped by more than 7% to as high as $14.50 during regular trading hours on Monday.