Top Nvidia Analyst Sees No Major Impact From Blackwell Delay, But Flags One Caveat He's Wary About Ahead Of Earnings
Portfolio Pulse from Shanthi Rexaline
Morgan Stanley analyst Joseph Moore maintains an Overweight rating on Nvidia (NVDA) with a $144 price target, ahead of its earnings report. Moore is not concerned about potential delays in Blackwell shipments, as demand has shifted to H200. He highlights the H20 ramp-up as a significant revenue contributor, despite concerns about margin compression. Moore warns that Nvidia must guide in the $33-34 billion range for Q3 to meet investor expectations.
August 27, 2024 | 9:33 am
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Morgan Stanley's Joseph Moore maintains an Overweight rating on Nvidia, with a $144 price target. He is not concerned about Blackwell shipment delays, as demand has shifted to H200. The H20 ramp-up is expected to contribute significantly to revenue, despite margin concerns.
The analyst's positive outlook and high price target suggest a bullish sentiment. The shift in demand to H200 and the significant revenue potential from H20 support a positive short-term impact on Nvidia's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100