NVIDIA (NVDA) Pullback Creates Opportunity for Long Term Inventors - Cowen

Cowen analyst Matthew Ramsay reiterated an Outperform rating and $350.00 price target on NVIDIA (NASDAQ: NVDA), saying the pullback is an opportunity for long-term investors.

The analyst commented, "Market pullback, analyst day, and nascent software opportunities are driving broadening investor interest. We preview the analyst day by presenting a bottom-up LT revenue model out to C2030. Under reasonable assumptions we see potential for $140B in revs $28/sh EPS and an embedded $26B software business. Risks are there but so is the opportunity for patient investors. Outperform $350 PT. We make NVIDIA our new top pick, along with AMD and MPWR (replacing STM, ON, and IFX). No change to our positive Auto thesis but pullback shifts 12 mo return potential back to higher growth names."

For an analyst ratings summary and ratings history on NVIDIA click here. For more ratings news on NVIDIA click here.

Shares of NVIDIA closed at $213.30 yesterday.

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