Wells Fargo analyst Aaron Rakers maintained a Buy rating on Nvidia (NVDA – Research Report) today and set a price target of $185.00.
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Aaron Rakers has given his Buy rating due to a combination of factors influencing Nvidia’s current and future performance. Rakers anticipates a positive demand trajectory for Nvidia’s Blackwell platform, which is expected to ramp up significantly. Despite the challenges posed by the China H20 ban, Rakers believes that Nvidia has sufficiently mitigated these risks in their model, although uncertainties around tariffs remain.
Moreover, Rakers highlights Nvidia’s strong position in the data center market, projecting a substantial year-over-year revenue growth. He also notes that current market estimates do not fully account for the impact of the H20 ban and inventory provisions, suggesting that Nvidia’s gross margins might be lower than street expectations. Additionally, positive demand indicators from hyperscale capital expenditures and trade data further support the Buy rating, indicating a robust demand environment for AI infrastructure.
According to TipRanks, Rakers is a top 100 analyst with an average return of 20.5% and a 60.92% success rate. Rakers covers the Technology sector, focusing on stocks such as Intel, Nvidia, and Pure Storage.
In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $160.00 price target.