NVIDIA (NVDA) PT Raised to $175 at Cantor Fitzgerald
Cantor Fitzgerald analyst C.J. Muse raised the price target on NVIDIA (NASDAQ: NVDA) to $175.00 (from $140.00) while maintaining a Overweight rating.
The analyst comments "As NVDA has now grown to be one of the largest market cap companies globally (~$3T), the clear question is, how much more room does the stock have to run? In our view, quite a bit. We have never seen a more-torrid pace of technology innovation and subsequent reduction in cost of compute as we are seeing today - all driven by NVDA and its full system approach. These dynamics are causing a strategic inflection in the proliferation of AI today, with no signs of slowing anytime soon given accelerating product cycles (NVDA now on annual cadence), continued software innovation, and optimizations across the stack allowing for a significant scale out of the compute unit. With this rapid pace of innovation, NVDA is only strengthening its already-robust moat, forcing competitors into playing an ongoing game of catch-up. Based on the above and NVIDIA's clear technologic push at scale, we continue to look for the shares to push higher. We reiterate our Overweight rating, the shares remain a TOP PICK, and we are raising our price target to $175 from $140."