Citi analyst Atif Malik maintained a Buy rating on Nvidia (NVDA – Research Report) today and set a price target of $163.00.
Atif Malik has given his Buy rating due to a combination of factors that highlight Nvidia’s strong market position and growth potential. One of the key reasons is Nvidia’s ambitious total addressable market (TAM) expectations, with capital expenditures projected to reach $1 trillion by 2028, driven by the increasing demand for compute power in inference and training. This suggests a robust growth trajectory for the company.
Additionally, Nvidia’s Blackwell architecture is surpassing expectations, with significant adoption among major US hyperscalers, indicating strong product performance and market penetration. Furthermore, Nvidia’s leadership in inference, coupled with its advanced compute roadmap and innovations in software and networking, reinforces its dominant position in the industry. These factors collectively contribute to Malik’s confidence in Nvidia’s continued expansion and success, justifying the Buy rating.
In another report released today, Bernstein also maintained a Buy rating on the stock with a $185.00 price target.