Nvidia price target raised to $190 from $170 at Benchmark

Benchmark raised the firm’s price target on Nvidia (NVDA) to $190 from $170 and keeps a Buy rating on the shares. While results had “plenty of strong points,” including 112% annual growth in its Data Center business and demand for its Hopper and Blackwell products that were said to be outstripping supply well into next year, the company’s “somewhat as expected report and guidance” was just not quite enough to please investors that have become increasingly wary regarding the stability and longevity of the “AI trade,” the analyst says. With shares up 207% year-to-date heading into earnings, and with the stock just 2.5% off its all-time highs, “nothing except the most aggressive beat and raise was likely to keep the market from fairly aggressive profit taking,” the analyst added in an earnings recap.