Benchmark analyst Cody Acree reiterated a Buy rating and $190.00 price target on NVIDIA (NASDAQ: NVDA).

The analyst commented, "We agree with the market’s initial reaction to its results, which once the China charge and associated revenue is netted out, equal a solid beat and raise report, which appears to be a relief to investors that worried just how bad things could get. Continued strength across AI industry infrastructure investments, coupled with the company’s highly successful new product ramp, has been recently overshadowed by a volatile tariff environment, an uncertain global macroeconomic climate, and recently increased China export restrictions. Even the most optimistic bull had to question the company’s China exposure and whether it could absorb the shock of abrupt shipment stoppage. We believe Wednesday’s report answers much of the market’s concerns, as Nvidia appears to be growing despite its China issues, with broad multi-segment demand continuing to outstrip its ability to fully supply, plus progress even being seen in its ability to improve manufacturing yields and volume availability. We also expect Nvidia to offer a new Chinese-tailored design variant over the next couple months, even as it was noticeably coy about its limited options during the call. Ultimately, we believe the China market is too large and strategically important for the industry’s leading solution supplier to be absent for long and expect Jensen to do whatever is necessary to re-engage and reclaim its lost opportunity."

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Shares of NVIDIA closed at $134.81 yesterday.