Morgan Stanley analyst Joseph Moore has reiterated their bullish stance on NVDA stock, giving a Buy rating yesterday.
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Joseph Moore has given his Buy rating due to a combination of factors that highlight Nvidia’s strong growth potential and competitive positioning. Nvidia’s management has expressed confidence in both the short-term and long-term demand outlook, emphasizing that the current demand is largely driven by the transition from CPU to GPU within existing cloud applications. This transition is expected to continue, while the broader transformative AI applications are still in their early stages, suggesting significant future growth opportunities.
Furthermore, Nvidia’s strategic focus on cloud service provider buildouts rather than direct LLM relationships is seen as a positive move, as it positions the company to benefit from the expansion of cloud infrastructure. The management also downplayed recent announcements, indicating that the company is not financing global capacity buildouts but is instead leveraging financing relationships to accelerate market development. These factors, coupled with Nvidia’s strong competitive dynamics, underpin Moore’s confidence in the company’s sustained demand and market position.
According to TipRanks, Moore is a 5-star analyst with an average return of 16.5% and a 61.35% success rate. Moore covers the Technology sector, focusing on stocks such as Nvidia, Micron, and Advanced Micro Devices.
In another report released yesterday, Cantor Fitzgerald also maintained a Buy rating on the stock with a $300.00 price target.