Analyst Joseph Moore from Morgan Stanley maintained a Buy rating on Nvidia (NVDA – Research Report) and keeping the price target at $160.00.
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Joseph Moore’s rating is based on Nvidia’s strategic advancements and potential for future growth. The introduction of NVlink Fusion, a new interconnect technology, expands Nvidia’s capabilities to work with a broader ecosystem, potentially enhancing growth in communication infrastructure revenues. This innovation, along with the launch of RTX PRO servers targeting the enterprise AI inference market, positions Nvidia well for future opportunities.
Despite some near-term challenges, such as the US Commerce Department ban impacting revenues in China, Nvidia is addressing intermediate-term concerns effectively. The company’s efforts to overcome issues related to the GB200 bottlenecks and its strategic partnerships, including a new relationship with Foxconn and plans for a supercomputer in Taiwan, suggest a promising path to a strong second half of the year. These factors contribute to the Buy rating, highlighting Nvidia’s potential for upside in the coming months.
In another report released today, Bank of America Securities also maintained a Buy rating on the stock with a $160.00 price target.