Jefferies raised the firm’s price target on Nvidia (NVDA) to $300 from $275 and keeps a Buy rating on the shares. The company reported another “beat and raise” quarter with Blackwell continuing to accelerate, the analyst tells investors in a research note. The firm says Nvidia now expects $20B of server revenue in fiscal 2027 alongside the release of Rubin in Q3. Jefferies remains cautious on whether investors will return to Nvidia shares due to concerns around merchant XPUs and compute diversification. However, the stock “continues to look remarkably cheap and the upside EPS case continues to widen,” the firm contends.
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