Piper Sandler analyst Harsh Kumar raised the firm’s price target on Nvidia (NVDA) to $225 from $180 and keeps an Overweight rating on the shares. The firm is expecting another positive quarter from Nvidia and sees upside to numbers for both the July and October quarters. While Piper is modeling largely in-line for the July quarter and slightly below Street for October, it is calling for upside given the recent positive commentary from U.S. hyperscalers as well as the inclusion of revenues from China. Piper notes that its estimates and Street estimates do not reflect the inclusion of China business as it is anticipating revenues to start coming in towards the end of this month.
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