Nvidia price target raised to $1,200 from $900 at Cantor Fitzgerald

Cantor Fitzgerald analyst C.J. Muse raised the firm’s price target on Nvidia to $1,200 from $900 and keeps an Overweight rating on the shares. While the company has achieved a $1B annual run-rate for its software business, Cantor looks for focus at next week’s GTC conference on why this can be a much larger business for Nvidia over time. The firm says the software opportunity is “only in the first inning.” Assuming an average 40-times multiple would suggest a fair value range of $1,200-$1,400 for the shares once investors gain conviction that 2025 is not a peak year for Nvidia, contends Cantor.