Rosenblatt Reiterates Buy Rating on NVIDIA (NVDA)
Rosenblatt analyst Hans Mosesmann reiterated a Buy rating and $200.00 price target on NVIDIA (NASDAQ: NVDA).
The analyst comments "Nvidia reports F3Q25 earnings on Wednesday, November 20th, after market close (register for webcast here). We expect modest upside for Nvidia's October quarter (our/consensus revenue estimates of $32.5B/$33.1B and Non-GAAP EPS of $0.73/$0.71) and January quarter outlook (our/consensus revenue estimates of $34.0B/$37.0B and Non-GAAP EPS of $0.72/$0.77) on continued moderated strength for Hopper as the company transitions into the slightly delayed Blackwell ramp. Shares are modestly at risk, we believe, on an over exuberant near term inflection that we believe plays out in CY1H25. The setup into 2025 is positive with a Blackwell ramp set to eclipse Hopper and resilient to unit share losses to AMD and ASIC accelerator players Broadcom and Marvell. The way to look at Nvidia's roadmap is one of increasing value, movement in vertical delivery of compute (HW and SW), and increasing interconnect attachment (NICs, switches, etc.) and full CSP delivery in the data center. We reiterate our Buy rating and $200 PT based on ~44x P/E multiple of our FY27 EPS."
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Shares of NVIDIA closed at $141.98 yesterday.