Citi analyst Atif Malik maintained a Buy rating on Nvidia (NVDA – Research Report) today and set a price target of $163.00.
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Atif Malik has given his Buy rating due to a combination of factors that highlight Nvidia’s strong performance and potential for future growth. The company reported better-than-expected results for the January quarter, driven by robust demand in the AI sector. This was evidenced by a significant increase in data center sales, which exceeded both Citi’s and the market’s expectations.
Moreover, Nvidia’s launch of the Blackwell product line marked the fastest ramp-up in the company’s history, contributing to the positive outlook. Despite a decline in gaming revenue, other segments like Pro Visualization and Auto showed impressive growth, further supporting the Buy rating. The anticipated commentary on future AI spending and gross margin trends, along with the transition from Hopper to Blackwell, are key areas of interest for investors, suggesting continued strength in Nvidia’s business operations.
Malik covers the Technology sector, focusing on stocks such as Nvidia, Apple, and Applied Materials. According to TipRanks, Malik has an average return of 31.2% and a 71.36% success rate on recommended stocks.
In another report released today, Morgan Stanley also reiterated a Buy rating on the stock with a $162.00 price target.