Nvidia's Hopper Demand and Blackwell Launch Position Makes It A Top Large-Cap Pick: Analysts
Portfolio Pulse from Anusuya Lahiri
Piper Sandler analyst Harsh V. Kumar reiterated an Overweight rating on Nvidia Corp (NASDAQ:NVDA) with a $1,050 price target, highlighting robust demand for Nvidia's Hopper GPU and the anticipated launch of the Blackwell GPU. Despite supply-demand imbalances, Nvidia's management is optimistic about power efficiency in data centers and revenue opportunities from data center products. Nvidia's shares are trading at a premium due to its leadership in the GPU market, with projected Q1 revenue and EPS of $24.01 billion and $5.41, respectively. Mizuho analyst Vijay Rakesh also noted Nvidia's leadership in AI GPUs but mentioned challenges with new high-power systems.
April 15, 2024 | 7:35 pm
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Nvidia Corp is highlighted for its strong demand for the Hopper GPU and the anticipated launch of the Blackwell GPU, with a $1,050 price target by Piper Sandler and positive remarks on its leadership in AI GPUs by Mizuho.
The reiterated Overweight rating and high price target by Piper Sandler, along with positive comments on Nvidia's AI GPU leadership and innovation, suggest a strong bullish sentiment among analysts. This, combined with the robust demand for Nvidia's products and strategic plans for future data centers, positions NVDA favorably in the short term. However, the mention of challenges with new high-power systems could introduce some caution among investors.
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