Citi analyst Atif Malik maintained a Buy rating on Nvidia (NVDA – Research Report) yesterday and set a price target of $163.00.
Atif Malik has given his Buy rating due to a combination of factors surrounding Nvidia’s strategic positioning and upcoming product developments. The anticipation of Nvidia’s GTC conference, where significant advancements like the Blackwell Ultra and Rubin chips are expected to be unveiled, plays a crucial role. These new chips are projected to offer substantial improvements in inference performance, which is a key area of interest for investors, especially when compared to custom ASIC solutions.
Furthermore, Nvidia’s stock is trading below its historical price-to-earnings trough, presenting an attractive risk/reward scenario. The company has also managed to mitigate risks associated with its sales exposure to China and Singapore, which were previously a concern due to AI diffusion rules. Although there are uncertainties regarding AI restrictions and tariffs impacting gross margins, Malik maintains a positive outlook, suggesting that Nvidia is well-positioned to navigate these challenges and capitalize on its technological advancements.
In another report released yesterday, Bernstein also maintained a Buy rating on the stock with a $185.00 price target.
Based on the recent corporate insider activity of 120 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NVDA in relation to earlier this year.
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