Piper Sandler analyst Harsh Kumar raised the firm’s price target on Nvidia (NVDA) to $175 from $140 and keeps an Overweight rating on the shares. The firm also elevated Nvidia to its top large-cap pick given the company’s “dominant positioning” in artificial intelligence accelerators and the upcoming launch of the Blackwell architecture. The total addressable market for AI accelerators will continue to rise in 2025 by $70B, and Nvidia is well positioned to capture most of the incremental market increase while ceding only a small bit to its merchant chip competitors, the analyst tells investors in a research note. On Nvidia’s Q3 report, Piper’s bull case projects a beat of roughly $1.3B in revenue for the October quarter and a beat of around $1.5B in a “greatly supply-constrained” January quarter. Management is likely to make comments about extremely strong demand for H200 as well as both the Blackwell and Grace Blackwell, contends the firm.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on NVDA:
- U.S. Orders Taiwan Semi to Stop Suppling Advanced AI Chips to China
- ‘Beware the Dow Curse,’ Says Investor About Nvidia Stock
- Microsoft (MSFT): Why Concerns Over Heavy AI Spending Are Overblown
- The Intel (NASDAQ:INTC) “Coffee Debacle” Is Now Solved
- Nvidia trades on Dow for first time, Rivian reports downbeat Q3: Morning Buzz
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
