From Business Insider, February 4:
Nvidia Stock Gets Buy Rating with Raised Price Target Amid Strong Growth Prospects
In a report released today, Toshiya Hari from Goldman Sachs reiterated a Buy rating on Nvidia (NVDA – Research Report), with a price target of $800.00.
Toshiya Hari has given a Buy rating to Nvidia’s stock based on a comprehensive assessment of the company’s growth prospects. The primary reason for this optimistic outlook is the significant increase in the forecasted non-GAAP earnings per share, which have been adjusted upward by an average of 22%. This adjustment reflects Hari’s expectations of continued robust demand for AI servers and an improvement in the supply of GPUs. Additionally, there is no longer an anticipation of a revenue decline in Nvidia’s Data Center segment in the second half of the calendar year 2024, but rather a projection of consistent growth into the first half of 2025. This growth is expected to be fueled by sustained investments in General AI infrastructure by major cloud service providers, a diversification of customer profiles, and the introduction of multiple new product cycles.
Reiterating the Buy rating, Hari includes Nvidia on the Conviction List and raises the 12-month price target to $800, suggesting a 21% potential upside from current levels. This revision is supported by a bullish analysis of Nvidia’s market position and the attractive risk-reward profile that it presents. The analyst’s confidence is further bolstered by the expectation that large cloud service providers will continue to expand their AI infrastructure, and by Nvidia’s expanding customer base and forthcoming product launches, such as the H200 and B100 GPUs, which are anticipated to drive revenue growth and secure Nvidia’s competitive edge in the market....
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Also at Business Insider, Benzinga with "NVIDIA Stock: A Deep Dive Into Analyst Perspectives (22 Ratings)", February 5.
The stock is changing hands at $
