Quinn Bolton, an analyst from Needham, maintained the Buy rating on Nvidia. The associated price target remains the same with $200.00.
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Quinn Bolton has given his Buy rating due to a combination of factors that highlight Nvidia’s strong performance and potential for growth. One of the key reasons is the robust performance of Nvidia’s Blackwell-related products, which have shown significant quarter-over-quarter growth in both compute and networking sectors. The Blackwell Ultra products, in particular, have generated substantial revenue, indicating strong market demand.
Additionally, Nvidia’s strategic positioning in the AI sector is bolstered by the increasing adoption of open-source models by enterprises, which could drive further growth. Despite geopolitical challenges affecting sales in China, Nvidia’s management remains optimistic about potential future sales if these issues are resolved. These factors, combined with a stable price target based on a solid earnings multiple, support the Buy rating.
In another report released today, KeyBanc also maintained a Buy rating on the stock with a $230.00 price target.