BofA raised the firm’s price target on Nvidia (NVDA) to $300 from $275 and keeps a Buy rating on the shares. The company “more than delivered” with topline growth seen accelerating to 77% year-over-year in fiscal Q1 from 73%, 63% and 56% growth rates seen in the last three quarters, the analyst tells investors. Supply commitments are over three times year-over-year to $95B, ensuring Nvidia “may well be the most dependable supplier that can serve the AI market that we believe could double towards $1.4Tn in the next few years,” the analyst added.
Claim 55% Off TipRanks
Forget margin or options. Here's how the pros trade NVDAPublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NVDA:
- Nvidia price target raised to $260 from $250 at Morgan Stanley
- Nvidia or AMD: Which Is the Best Chip Stock Post-Earnings, Meta Deals?
- US official says Nvidia has sold zero H200 chips to China, Bloomberg reports
- Nvidia price target raised to $300 from $270 at Citi
- Sustained AI-Driven Growth and Networking Upside Underpin Nvidia Buy Rating and $240 Price Target