Nvidia To Remain As A Benchmark For Computing Industry And Spur Demand, Say Analysts
Portfolio Pulse from Shivani Kumaresan
Analysts from Goldman Sachs and BofA Securities have reiterated their Buy ratings on Nvidia (NASDAQ: NVDA) shares, citing strong growth prospects in data centers, AI, and gaming. Nvidia's CEO Jensen Huang's keynote at Computex 2024 highlighted the company's ongoing innovation in GPUs, CPUs, and networking hardware, as well as its leadership in AI and robotics platforms. Analysts expect Nvidia to maintain its competitive edge and foresee positive EPS revisions driving continued stock outperformance.
June 03, 2024 | 6:56 pm
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Goldman Sachs and BofA Securities analysts have reiterated Buy ratings on Nvidia, with price targets of $1,200 and $1,500 respectively. Nvidia's CEO highlighted ongoing innovation in GPUs, CPUs, and networking hardware, and leadership in AI and robotics platforms. Analysts expect positive EPS revisions and continued stock outperformance.
The reiteration of Buy ratings and increased price targets from major analysts, combined with Nvidia's ongoing innovation and leadership in key technology areas, are strong indicators of positive short-term stock performance. The company's ability to maintain a competitive edge and drive positive EPS revisions further supports this outlook.
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