CLSA sees “little to worry” regarding Nvidia (NVDA) shares and maintains a “high-conviction” Outperform rating with a $300 price target CLSA attributes the stagnation in the stock despite earnings estimates moving higher to concerns around hyperscaler spending and the cyclicality of the AI. However, Nvidia offers “exponential token growth, buoyant earnings and attractive valuations,” the analyst tells investors in a research note. CLSA sees no AI build downcycle risk for the company in 2026 and 2027. The firm upped Nvidia’s earnings estimates by 10%-11%, saying the company’s recent results confirmed accelerating sales.
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