NVIDIA (NVDA) PT Raised to $250 at Rosenblatt Even Though ARM Deal Might Not Happen

August 4, 2021 6:31 AM EDT
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Price: $224.82 +2.47%

Rating Summary:
    37 Buy, 15 Hold, 5 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 16 | Down: 13 | New: 52
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Rosenblatt analyst Hans Mosesmann raised the price target on NVIDIA (NASDAQ: NVDA) to $250.00 (from $200.00) while maintaining a Buy rating.

The analyst commented, "We are taking our price target for Buy rated NVDA to $250 from $200 based on earnings power over $6.00 for FY24 (calendar 2023) on best-in-class AI play with growth vectors into next generation networking/DPU adoption and early-days of autonomous driving S/W kicker. We now believe the move to acquire ARM later in the year is likely not going to happen as a result of the UK’s posture on the deal, which we think the Street has been slowly realizing. The stock will work nonetheless, we believe."

"Nvidia’s ARM posture since the GTC event, call it Plan B, with the new Grace semi-custom ARM CPU (supercomputing) and strategic engagements with ARM CPU players Amazon, Ampere, Marvell, and Mediatek cover a wide range of end-markets for Nvidia GPU to optimize its graphics offerings at scale. We note that yesterday’s fireside chat with Interactions Corporation Michael Johnston, "AI/ML 101+ From Front Line Practitioner Dr. Michael Johnston of Interactions", a noted expert in AI/ML hosted by our own S/W guru John McPeake, reinforced the notion for us that Nvidia is the premier player in both AI training and inferencing."

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