UBS on Nvidia: Demand and Supply Dynamics Point to 'Kingmaker' Status with $14.5B Q3 Revenue Projection
Portfolio Pulse from Anusuya Lahiri
UBS analyst Timothy Arcuri has maintained a Buy rating on Nvidia Corp (NASDAQ:NVDA) and raised the price target from $475 to $540. Arcuri has substantially raised estimates ahead of Nvidia's earnings next week, with a Q3 revenue projection of $14.5 billion. He also sees Nvidia's EPS tracking to ~$10 this year and ~$17 in FY25. Wells Fargo analyst Aaron Rakers reiterated Nvidia with an Overweight and raised the price target from $450 to $500.
August 15, 2023 | 3:53 pm
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POSITIVE IMPACT
UBS and Wells Fargo analysts have raised their price targets on Nvidia, indicating a positive outlook for the company's upcoming earnings report.
The raised price targets from UBS and Wells Fargo analysts indicate a positive outlook for Nvidia's upcoming earnings report. This could lead to increased investor confidence and potentially a rise in the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100