Nvidia Positioned for Massive Growth as Core Holding in Generative AI, Analyst Says
Portfolio Pulse from Anusuya Lahiri
Tigress Financial Partners analyst Ivan Feinseth reiterated a Buy rating on Nvidia Corp (NASDAQ:NVDA) and raised the price target from $320 to $560. Nvidia is emerging as a core holding in the generative AI investment theme and is expected to benefit from the projected $1 trillion worth of global data infrastructure spending transitioning to accelerated computing. The company's Q1 results showed strong revenue growth, with the Data Center segment achieving record revenue of $4.28 billion, up 14% YoY. Nvidia's forecasted growth includes a 107.43% increase in net sales revenue to $53.68 billion and a 131.19% increase in economic operating cash flow to $33.15 billion over the next twelve months.
July 07, 2023 | 4:42 pm
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Nvidia's strong Q1 results and forecasted growth, along with the raised price target from Tigress Financial Partners, position it for significant growth in the AI space. The company's partnerships with major hyper scalers and cloud service providers further strengthen its position.
The raised price target and Buy rating from Tigress Financial Partners, along with Nvidia's strong Q1 results and forecasted growth, indicate a positive outlook for the company. Nvidia's partnerships with major hyper scalers and cloud service providers further solidify its position in the AI space, which is expected to drive its stock price up in the short term.
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IMPORTANCE 90
RELEVANCE 100