Piper Sandler analyst Harsh Kumar reiterated a Buy rating on Nvidia today and set a price target of $225.00.
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Harsh Kumar has given his Buy rating due to a combination of factors that suggest a positive outlook for Nvidia’s financial performance. One key reason is the anticipated growth in revenue driven by strong demand from both the U.S. and China, particularly in the data center segment. The inclusion of Chinese revenues, expected to start contributing significantly in the October quarter, is projected to add approximately $6 billion in sales, with further growth anticipated.
Moreover, the demand for Nvidia’s products is currently outpacing supply, especially in the high-performance computing sector, which indicates a robust market position. Additionally, the ongoing capital expenditure by U.S. hyperscalers is expected to remain elevated, supporting Nvidia’s growth. These factors, combined with Nvidia’s ability to slightly exceed estimates and manage supply shortages, underpin Harsh Kumar’s optimistic outlook and Buy rating for the stock.
In another report released on August 11, Bernstein also assigned a Buy rating to the stock with a $185.00 price target.