In a report released today, Atif Malik from Citi maintained a Buy rating on Nvidia, with a price target of $270.00.
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Atif Malik has given his Buy rating due to a combination of factors that highlight Nvidia’s strategic positioning in the evolving AI landscape. The recent advancements in AI reasoning models, such as AWS’s episodic memory functionality and Google’s Nested Learning approach, underscore the growing demand for enhanced GPU and memory capabilities. Nvidia’s Rubin CPX GPU, announced at the AI Infrastructure Summit, is poised to capitalize on this trend with its cost-efficient GDDR7 memory, offering a significant reduction in total cost of ownership compared to more expensive alternatives.
These technological advancements are expected to drive increased demand for Nvidia’s products, positioning the company favorably against competitors like TPU and Trainium. Malik’s analysis suggests that Nvidia’s innovations in GPU technology and memory efficiency will provide a competitive edge in the market, supporting his Buy rating as the company is well-positioned to benefit from the ongoing AI and machine learning developments.
In another report released on December 3, Bank of America Securities also maintained a Buy rating on the stock with a $275.00 price target.
Based on the recent corporate insider activity of 128 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NVDA in relation to earlier this year.