Raymond James analyst Srini Pajjuri maintained a Buy rating on Nvidia (NVDA – Research Report) yesterday and set a price target of $150.00.
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Srini Pajjuri has given his Buy rating due to a combination of factors. Despite the recent U.S. government restrictions on exporting H20 GPUs to China, which are expected to impact Nvidia’s revenue, the analyst believes the stock’s current valuation already reflects this risk. The company has proactively taken inventory charges, indicating their anticipation of not receiving an export license, and has adjusted their financial estimates accordingly.
More importantly, Srini Pajjuri emphasizes the strong demand for Nvidia’s new products, particularly the Blackwell series, which is expected to sustain the company’s momentum throughout the year. Conversations with hyperscale customers in Asia suggest no slowdown in AI spending, which is crucial for Nvidia’s growth. Additionally, there is potential for policy changes that could mitigate the impact of the export restrictions, further supporting the Buy rating.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $162.00 price target.
NVDA’s price has also changed moderately for the past six months – from $131.600 to $112.200, which is a -14.74% drop .