Phillip Securities analyst Yik Ban Chong maintained a Buy rating on Nvidia today and set a price target of $200.00.
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Yik Ban Chong’s rating is based on Nvidia’s strong earnings visibility driven by the increasing demand for AI technologies. The company’s data center revenue saw a significant year-over-year increase, largely due to the transition of major cloud service providers to Nvidia’s Blackwell GB300 racks, which have doubled their shipments compared to the previous model.
Nvidia has projected substantial revenue visibility, estimating around $380 billion from its Blackwell and Vera Rubin products through 2027. This projection is supported by growing demand from hyperscalers and sovereign nations, with notable deals in South Korea, Europe, and the UAE. Despite potential risks from circular financing with partners like OpenAI and Anthropic, these are considered minor. Nvidia’s forward price-to-earnings ratio remains within its historical range, further supporting the Buy recommendation.
In another report released on November 21, Citi also maintained a Buy rating on the stock with a $270.00 price target.