Piper Sandler raised the firm’s price target on Nvidia (NVDA) to $180 from $150 and keeps an Overweight rating on the shares. The firm notes the company reported a strong April quarter, effectively beating estimates given the impact from the China ban. For July, guidance calls for $45B which was lower than street expectation of $45.8B, but management implied that it will leave behind roughly $8B in China business during the July quarter. All in all, Piper continues to see strong execution and remains bullish.
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