Analyst Atif Malik of Citi maintained a Buy rating on Nvidia (NVDA – Research Report), retaining the price target of $180.00.
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Atif Malik has given his Buy rating due to a combination of factors that highlight Nvidia’s strategic positioning and growth potential in the AI sector. The announcement of significant investments in AI infrastructure across Europe, including the development of gigafactories, underscores Nvidia’s role in the burgeoning AI market. These investments are expected to enhance Nvidia’s market presence, particularly as the EU remains open to importing advanced AI accelerators despite potential trade tensions.
Additionally, the projected $1.5 trillion sovereign AI market over the next few years presents a substantial opportunity for Nvidia, especially given its involvement in multiple European AI projects. The company’s partnerships in France, the UK, and Germany to build AI infrastructure further solidify its leadership in the industry. Despite challenges such as demand predictability and competition from Huawei, Nvidia’s strategic initiatives and partnerships position it well for future growth, justifying the Buy rating.
In another report released today, UBS also maintained a Buy rating on the stock with a $175.00 price target.
NVDA’s price has also changed slightly for the past six months – from $139.310 to $142.830, which is a 2.53% increase.
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