Needham raised the firm’s price target on Nvidia to $300 from $270 and keeps a Buy rating on the shares. The analyst believes that the stock’s valuation will increase over the near term on data center strength, receding gaming headwinds, and greater traction in inference and software markets. The firm also states that the end-market that is Nvidia’s biggest growth engine is experiencing a recovery as hyperscaler sales have ramped the past few quarters and visibility has improved.
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Published first on TheFly
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