- Goldman Sachs (NYSE:GS) reiterates its Buy rating for Nvidia (NASDAQ:NVDA) and raises the price target from $275 to $310, a 19% upside to yesterday’s close.
- Analyst Toshiya Hari notes that Nvidia expects cryptocurrency-related revenue to decline significantly in Q2 based on customer feedback.
- Hari: “With crypto now de-risked, in our view, the new product launch in Gaming ahead of us, we see positive risk-reward and would thus recommend investors to Buy the stock.”
- More action: Bank of America Merrill Lynch (NYSE:BAC) raises its Nvidia target from $300 to $340 and reiterates a Buy rating.
- Analyst Vivek Arya says the company’s “leadership in AI remains the most critical component of stock sentiment/valuation.”
- Nvidia shares are down 1.8% to $255.54.
- Previously: Nvidia -1.7% after Q1 beats, upside guide, strength in Gaming and Datacenter (May 10)
- Previously: Nvidia earnings call: GPU pricing, crypto demand, and TAMs (May 11)
- Now read: Nvida: Impressive Results, Shareholders Disappointed
Original article