NVIDIA (NVDA) PT Raised to $1,180 at Mizuho
Mizuho analyst Vijay Rakesh raised the price target on NVIDIA (NASDAQ: NVDA) to $1,180.00 (from $1,000.00) while maintaining a Buy rating.
The analyst commented: "NVDA reported a better than expected AprQ at $26.0B (consensus $24.7B), guided the JulQ to $28.0B (cons. $26.8B), and announced a 10-for-1 stock split.
Key takeaways: 1) JulQ DC we estimate up 9% q/q as demand continues to outpace supply, with first Blackwell shipments expected in the quarter, 2) Gaming seeing improved end-market demand and healthy channel inventories, and 3) GMs guided to 75.5% (cons 75.6%) with F25E in the mid-70% range with product mix.
Reiterating Buy, raising ests/PT to $1,180 from $1,000, as NVDA remains our Mizuho 2024 Top Pick, leading the AI accelerator market growing >60% CAGR '23-'27E."