We know that Nvidia (NASDAQ:NVDA) has been making a lot of headway in AI lately, thanks to its GPU line. Nevertheless, Nvidia made even more headway on Friday as Daiwa Capital offered some news on just how far Nvidia’s gone already. Daiwa Capital, via analyst Louis Miscioscia, hiked its rating on Nvidia from “neutral” to “outperform” and hiked the price target as well from $408 to $475. Miscioscia recognizes that Nvidia’s competitors, like AMD (NASDAQ:AMD) and Intel (NASDAQ:INTC), have potent chipsets. But Nvidia is a total package. It’s not just the chips, Miscioscia asserts, but how they’re being used and the extras that Nvidia can offer.
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Indeed, Nvidia just completed a fix for issues seen in its driver DPC latency. The fix needs to go through quality assurance, noted quality assurance rep Manuel Guzman, but once it clears that process, it’s good to go. That’s the kind of thing that goes into the complete package that Miscioscia referred to; it’s not just chips but expertise, quality assurance, and a willingness to own the process.
What is the Target Price for NVDA?
A lot of analysts feel like Miscioscia does here. In fact, 28 of them do. That’s the number of Buy ratings on Nvidia stock, and with two Holds and one Sell rounding out the picture, that makes for a Strong Buy. In addition, with an average price target of $471.80, Nvidia stock offers 11.59% upside potential.
