Piper Sandler has increased its target price to $1,050 from $850.
This week, we participated in NVDA’s GTC conference, where numerous product and partnership announcements were made. Management outlined various initiatives spanning the company’s hardware and software offerings, including the introduction of its latest GPU architecture, Blackwell, succeeding the Hopper architecture. We see this new architecture as further solidifying NVDA’s dominant position in the market. NVDA continues to lead in providing comprehensive hardware and software solutions for the ongoing transition to accelerated computing and generative AI. As previously mentioned, the company has increased its product release frequency to one major release per year, starting this year. Here are our key insights from the event, along with a summary of product and partnership announcements. NVDA remains our preferred choice for large-cap investment, with a price target of $1,050.”
Oppenheimer increases Nvidia’s price target to $1,100 from $850, stating, “Nvidia has evolved from a graphics-focused firm to a top-tier AI computing platform provider.”
“Initially utilized for graphics in entertainment, GPUs now excel in deep learning AI applications in data centers due to their parallel processing and numerous computing cores.”
