Nvidia price target raised to $185 from $165 at Melius Research

Melius Research raised the firm’s price target on Nvidia (NVDA) to $185 from $165 and keeps a Buy rating on the shares. The firm, which cites higher estimates for its target increase, says it has “higher conviction in our long-term estimates for Nvidia vs. any other semis/systems company we cover.” Giving up on Nvidia here after its hit Hopper would be “like giving up on Apple at iPhone 1 or 2,” argues the analyst, who adds: “While it didn’t seem possible, we are even more excited about Jensen Huang’s next chip than we were before. It’s similar to the feeling around product cycles with Apple’s iPhone some 15 years ago, just on a different scale.”