Nvidia’s Strong Earnings Prompt Slew of Price Target Hikes: What Wall Street’s Saying
A blowout quarter had the stock surging on Friday.
Investors and analysts alike were impressed by Nvidia’s (NVDA) - Get Report earnings, revenue and guidance beat on Thursday, raising price targets and sending the stock up more than 6% in early trading on Friday.....MUCH MORE
Here’s what analysts said about the blowout quarter:
Barclays (Overweight, Price Target Raised from $260 to $300)
Reported a beat and raise driven entirely by strength in the Data Center…cloud vendors should see a step up in spend and clearly NVDA has a combination of AI drivers layering in on top of this market improvement. On the competitive front, there still appears little competition as INTC abandoned internal efforts and bought Habana while NVDA is lapping some GOOGL headwinds. Gaming returned to double-digit Y/Y growth and should benefit from the move to 7nm. Net net, this was the Data Center acceleration many hoped for and we look for the upcoming Analyst Day for the next leg of growth driven by the launch of 7nm products.
-Blaine Curtis
Citi (Buy, Price Target raised from $245 to $315)
We expect stock to outperform the group in 2020 on a) improving data center demand led by conversational AI and recommendation engines; b)closure of MLNX acquisition, and c) next gen 7nm Ampere platform announcement at flagship GTC conference in March....
NVDA $287.32 up $16.54 (+6.11%) after hitting an all-time-high $292.21
Meanwhile, some punks from Los Angeles backed up Jensen Huang's report:
