Analysts at Goldman Sachs (NYSE:GS), Argus and Oppenheimer raised their revised price targets on Nvidia stock in their note this week, also pointing to continued strength in artificial intelligence.
Goldman Sachs raised its price target on the chipmaker to $135 from $120, reiterating its buy rating on the stock. The bank cited higher expectations for initial shipment volumes across Nvidia’s supply chain for the Blackwell graphics processing unit, which is scheduled to be introduced in the late third quarter of this year.
“Our meetings at Computex 2024 reinforced our view that NVIDIA is on track to maintain its competitive lead in accelerated computing for the foreseeable future,” they wrote. Following their meetings, the bank highlighted “an industry focused on the introduction of AI-powered PCs.”
Argus raised its price target on Nvidia to $150, noting that the company is positioned to continue to benefit from market momentum in FY25.
“We are looking forward to growth beyond the data center and AI, as the company’s other end markets in gaming, professional visualization, and automotive also accelerate,” they wrote.
At Oppenheimer, Nvidia’s target was raised to $150 from $110. “We see Nvidia as best positioned in AI, leveraging integrated AI hardware, networking and software solutions,” the analysts said.
