Atif Malik, an analyst from Citi, maintained the Buy rating on Nvidia. The associated price target was raised to $210.00.
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Atif Malik has given his Buy rating due to a combination of factors that highlight Nvidia’s strong market position and growth potential. One of the key reasons is the company’s positive outlook following the Rubin CPX GPU launch, which strengthens Nvidia’s competitive positioning. Additionally, Malik has adjusted the sales estimates for the upcoming quarters to reflect the anticipated increase in AI infrastructure spending, which aligns with Citi’s updated forecasts.
Furthermore, the potential catalyst for Nvidia’s stock is the upcoming GTC Washington event, which could positively impact the company’s market perception. Malik also notes that Nvidia’s management remains confident in their roadmap and execution, particularly in the context of the ongoing GPU versus ASIC debate. The strategic investment in OpenAI and the company’s ability to support large-scale infrastructure projects further bolster Nvidia’s growth prospects, justifying the Buy rating.
Malik covers the Technology sector, focusing on stocks such as Nvidia, Lam Research, and Apple. According to TipRanks, Malik has an average return of 34.6% and a 75.38% success rate on recommended stocks.
In another report released on September 27, Jefferies also maintained a Buy rating on the stock with a $220.00 price target.