NVIDIA (NVDA) PT Raised to 'Street High' $250 at Evercore ISI
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Rating Summary:
50 Buy, 11 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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(Updated - September 15, 2017 6:59 AM EDT)
(updated to expand analyst comment)
Evercore ISI raised its price target on NVIDIA (NASDAQ: NVDA) to a 'Street High' $250.00 (from $180.00) while maintaining an Outperform rating.
Analyst CJ Muse believes the company is building out the industry standard when it comes to Artificial Intelligence and believes the stock is a buy on the changing landscape. The analyst comments come following a meeting with management in which the key takeaways were that "management believes that investors still severely underestimates the impact of AI and the size of the potential market (“Every PC/Server will have AI in the future”)." Muse is convinced NVDA is creating "THE AI computing industry standard" thanks to first mover advantage, unified GPu architecture and a system level approach.
The analyst believes the tremendous growth opportunities led by AI in the Data Center and Automotive verticals supports a clear path to $10 in earnings power over the next 3-5 years (assumes DC/Auto revs of $7.5B) with sustained growth thereafter.
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