Mizuho Securities analyst Vijay Rakesh has maintained their bullish stance on NVDA stock, giving a Buy rating yesterday.
Vijay Rakesh has given his Buy rating due to a combination of factors that highlight Nvidia’s strategic positioning and growth potential. The company’s recent GTC conference underscored its dominance in hardware and software, alongside a robust roadmap that projects significant market expansion, particularly in the data center sector, which is expected to reach over $1 trillion by 2028. Key developments include the introduction of advanced products like the Vera Rubin Ultra and Feynman, which promise substantial performance improvements.
Additionally, Nvidia’s strong cloud orders and partnerships with major cloud service providers signal a promising revenue trajectory, with expectations of doubling orders by 2025. The company’s advancements in AI, including software optimization and new product launches such as the Spectrum-X and Quantum-X, further solidify its leadership in the sector. With a focus on enterprise AI and robotics, Nvidia is poised to capitalize on emerging opportunities, supported by strategic partnerships and a growing total addressable market. These factors contribute to Rakesh’s positive outlook and reiteration of an outperform rating with a $168 price target.
In another report released yesterday, J.P. Morgan also maintained a Buy rating on the stock with a $170.00 price target.
NVDA’s price has also changed slightly for the past six months – from $117.870 to $117.520, which is a -0.30% drop .
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