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”.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NVDA:
- Intel (NASDAQ:INTC) Brings the Fight to Nvidia, Investors Somewhat Pleased
- Nvidia or Intel: Top Analyst C.J. Muse Chooses the Elite Chip Stock to Buy Ahead of Earnings
- SMCI Diversifies Product Line to Capture AI Demand
- TipRanks’ All-Star Analyst – Who is the Best on NVDA Stock?
- Micron Technology (NASDAQ:MU) Presents Bulls a Cheapened Options Play