Nvidia price target raised to $170 from $160 at Morgan Stanley

Morgan Stanley analyst Joseph Moore raised the firm’s price target on Nvidia (NVDA) to $170 from $160 and keeps an Overweight rating on the shares. Without an H20 ban, the company would have beaten guidance by over $3B for April, notes the analyst, who contends that Nvidia is “putting digestion fears fully to rest” and showing acceleration of the business other than the China headwinds. The bear case is fading and inference trajectory is durable, adds the analyst, who argues “everything should get better from here” for the firm’s Top Pick in semis.