NVIDIA (NVDA) PT Raised to $300 at Rosenblatt; AI Inflection Point, Datacenter Disruptor

February 9, 2018 9:04 AM

Rosenblatt raised its price target on NVIDIA (NASDAQ: NVDA) to $300.00 (from $250.00) while maintaining a Buy rating.

Analyst Hans Mosesmann commented, "Another beat and raise. Nvidia continues to execute flawlessly in its target markets and we are in the early days of the Volta GPU disruption in the datacenter. Gross margin levels (GAAP) going forward are now nearly 63% and we believe over time can continue to grow as datacenter increases as a percent of sales mix. We believe that as GPUs continue to deploy within the datacenter given the ascendance of AI workloads that CPUs will start to shift into secular devaluation mode. We view Nvidia at the center of one the biggest transitions in the history of computing, with a position so entrenched and dominant that we see no direct threat at scale on the horizon. NVDA is our single best idea and we reiterate our Buy rating with a new price target of $300 up from $250."


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