DBS analyst Fang Boon Foo has maintained their bullish stance on NVDA stock, giving a Buy rating yesterday.
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Fang Boon Foo has given his Buy rating due to a combination of factors that highlight Nvidia’s strong market position and growth potential. Nvidia’s leadership in the AI-chip market, particularly with its cutting-edge GPUs designed for data centers, positions it well to capitalize on the increasing demand for AI applications. The company’s commitment to innovation, as evidenced by its plans to annually upgrade its AI accelerators, further supports its growth trajectory.
Nvidia’s financial outlook is robust, with management projecting significant revenue growth and maintaining high gross margins. Despite a slight reduction in the target price, the company’s diverse revenue streams and strong cash position provide a solid foundation for future growth. While upcoming sector-specific tariff policies present some uncertainty, Nvidia’s strategic initiatives and market leadership are expected to mitigate these risks and sustain its growth momentum.
Boon Foo covers the Technology sector, focusing on stocks such as Nvidia, Marvell, and Broadcom. According to TipRanks, Boon Foo has an average return of 29.0% and a 55.81% success rate on recommended stocks.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $185.00 price target.