Nvidia price target raised to $135 from $120 at DA Davidson

DA Davidson raised the firm’s price target on Nvidia (NVDA) to $135 from $120 but keeps a Neutral rating on the shares. The company’s Q1 results were mixed, with better than expected top-line numbers, but notable impact from the lack of H20 sales into China in Q1 and Q2, the analyst tells investors in a research note. The firm adds that it believes that the Street is under-accounting Chinese contribution to Nvidia revenue and that this topic represents the largest overhang on the stock, noting that this will continue until there is an official position from the Trump administration that will give a resolution on the matter in one direction or the other.