DBS analyst Fang Boon Foo has maintained their bullish stance on NVDA stock, giving a Buy rating on May 5.
Fang Boon Foo has given his Buy rating due to a combination of factors that highlight Nvidia’s strong market position and growth potential. Nvidia’s dominance in the AI-chip market is a significant factor, as the company continues to lead with its cutting-edge GPUs designed for high-powered computing applications such as artificial intelligence, machine learning, and scientific computing. The company’s commitment to innovation is evident in its plans to annually upgrade its AI accelerators, with the upcoming Blackwell chips set to replace the current Hopper generation.
Nvidia’s consistent revenue growth further supports the Buy rating, with management projecting an eighth consecutive quarter of substantial revenue increases, driven by robust global demand for AI-chips. The company’s strong fundamentals, including above-peer margins and a diverse revenue base, are expected to support its next phase of growth. Despite a lowered target price, Nvidia’s strategic positioning and potential benefits from upcoming sectoral tariff policies contribute to a positive outlook for the stock.
In another report released on May 5, Piper Sandler also maintained a Buy rating on the stock with a $150.00 price target.