Analyst Quinn Bolton of Needham maintained a Buy rating on Nvidia (NVDA – Research Report), retaining the price target of $160.00.
Quinn Bolton has given his Buy rating due to a combination of factors that highlight Nvidia’s strong position in the data center market and its innovative advancements. The company’s recent GTC keynote revealed significant updates to its Data Center GPU roadmap, including the confirmation of Blackwell Ultra’s production timeline and the introduction of future generations like Vera Rubin and Feynman. These developments suggest a robust pipeline that is likely to drive substantial growth.
Furthermore, Nvidia’s strategic moves in networking with new co-packaged optics switches and the introduction of Dynamo, an open-source AI inference-serving software, demonstrate its commitment to expanding its technological capabilities. The company’s focus on AI infrastructure and new foundation models for enterprise IT and industrial applications indicates a potential to tap into vast markets, estimated at $500 billion and $50 trillion, respectively. These factors collectively underpin Bolton’s optimistic outlook on Nvidia’s future performance.
In another report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a $180.00 price target.
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