In a report released yesterday, Blayne Curtis from Jefferies maintained a Buy rating on Nvidia (NVDA – Research Report), with a price target of $185.00.
Blayne Curtis has given his Buy rating due to a combination of factors impacting Nvidia’s stock. Despite recent export restrictions imposed by the U.S. government on Nvidia’s H20 chips, which limit sales to China and other regions, Curtis sees potential in Nvidia’s strategic moves and long-term growth prospects.
Nvidia’s commitment to invest significantly in AI infrastructure in the U.S. over the next few years is a positive indicator of its future growth. Additionally, while the immediate financial impact of the export restrictions is expected to be significant, Curtis believes that Nvidia’s strong roadmap and the increasing demand for AI technology will eventually offset these challenges. The company’s ability to navigate these regulatory hurdles and its focus on AI development are key reasons for maintaining a Buy rating on the stock.
According to TipRanks, Curtis is a 5-star analyst with an average return of 18.3% and a 57.01% success rate. Curtis covers the Technology sector, focusing on stocks such as Nvidia, Broadcom, and Marvell.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $162.00 price target.