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Mizuho lifts Nvidia price target as it 'continues to dominate AI hardware landscape'

Published 06/04/2024, 08:25 AM
Updated 06/04/2024, 08:27 AM
© Reuters Mizuho lifts Nvidia price target as it \'continues to dominate AI hardware landscape\'
NVDA
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Mizuho analysts raised their 12-month price target on Nvidia (NASDAQ:NVDA) stock from $1,180 to $1,275 as the chipmaker “continues to dominate the AI hardware landscape.”

“We believe NVDA continues to see strong opportunities with its Hopper platform and Blackwell B100/200in 3Q24-1Q25, and now 3nm/Rubin announced at Computex for 2026,” analysts said in a note.

“We believe NVDA could also see strong traction with its B200 NVL36/72 full rack solutions with partner Wistron and $1.5-3M+ price tag set to ramp in 1H25E, which could provide significant upside to earnings,” they added.

Moreover, the upcoming 10-1 share split on June 7 is expected to create a more attractive entry point for retail investors, Mizuho noted potentially driving additional share tailwinds.

Analysts also emphasized AMD’s (AMD (NASDAQ:AMD)) strong roadmap, particularly with the upcoming MI325/350/400 chip series.

The MI400 series is set to include HBM4 and MI350, significantly improving inference performance by 35 times compared to the MI300.

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