Wedbush raised the firm’s price target on Nvidia (NVDA) to $210 from $175 and keeps an Outperform rating on the shares ahead of the fiscal Q2 report on August 27. The firm says hyperscale spending results for Q2 “were ubiquitously positive.” Conversations throughout the quarter indicated “robust” demand for Nvidia with supply at times seemingly falling shy of demand, the analyst tells investors in a research note. Wedbush’s checks suggest Nvidia’s GB300 server shipments appear on track for late Q3 or Q4. The increased both its earnings expectations and the stock’s multiple to reflect solid demand trends and some rebound in China sales.
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