Nvidia price target raised to $1,000 from $795 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Nvidia (NVDA) to $1,000 from $795 and keeps an Overweight rating on the shares. Despite the strong year-to-date appreciation, the firm recommends that investors maintain outsized AI exposure, and the stock is the best way to gain that exposure, the analyst tells investors in a research note. Longer term investments in AI are being fleshed out, the firm adds, noting that hyperscalers are planning data center expansions for the next 3-4 years that would indicate durability, with the biggest headlines being around Microsoft (MSFT) and its $100B “Stargate project”.