UBS raised the firm’s price target on Nvidia (NVDA) to $205 from $175 and keeps a Buy rating on the shares. UBS sees Q2 revenue in the $46B range, with Q3 revenue guided to about $54B-$55B excluding China, or up to $57B if China is included, the analyst tells investors in a research note. The firm’s supply chain work on production suggests compute can grow 20%-25% quarter over quarter on a base of $35B in Q2, which should add $7B-8B of compute revenue on a q/q basis for Q3, UBS says.
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