Nvidia initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage of Nvidia with an Overweight rating and $775 price target. Nvidia remains the artificial intelligence compute company where the opportunity is not a percentage of data center revenues, but rather a percentage of worldwide IT spending, the analyst tells investors in a research note. The firm expects the shares to “climb the current wall of worry throughout 2024 as investors gain confidence of sustained growth into 2025 and beyond.”