Truist raised the firm’s price target on Nvidia (NVDA) to $255 from $228 and keeps a Buy rating on the shares after its Q3 earnings beat and above-consensus guide. The firm’s model update is driven by the management’s “increasingly believable” assertion that AI is not in a bubble, reinforcing its 50% AI total addressable market CAGR outlook and $3-$4T total addressable market by 2030, the analyst tells investors in a research note. Meaningful upside potential persists from average selling price increases for Rubin, unit upside potential that comes through 2026, and the potential ability to ship to China, Truist added.
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