Analyst Timothy Arcuri from UBS maintained a Buy rating on Nvidia and increased the price target to $235.00 from $205.00.
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Timothy Arcuri has given his Buy rating due to a combination of factors that highlight Nvidia’s strong potential for growth. One of the primary reasons is the company’s recent demand commentary, which indicates that current market estimates are significantly undervalued. Arcuri’s analysis, supported by supply chain insights, suggests that Nvidia’s earnings per share (EPS) could rise substantially in the coming years, with data center revenue projected to nearly double by 2027.
Moreover, Nvidia’s strategic partnerships and technological advancements, such as the increase in CoWoS allocation and ongoing HBM4 agreements, further bolster its market position. Despite some concerns about production and inventory levels, Arcuri believes that Nvidia’s ability to manage these challenges and the potential upside from the Chinese market present significant opportunities. Consequently, Arcuri has raised the price target from $205 to $235, reflecting a positive outlook ahead of the upcoming earnings report.
In another report released today, Barclays also maintained a Buy rating on the stock with a $240.00 price target.