Nvidia PT Raised to $1,177 at Truist amid ‘still-improving industry contact feedback’
© Reuters Nvidia PT Raised to $1,177 at Truist amid ‘still-improving industry contact feedback’
Truist Securities analysts raised their price target on Nvidia (NASDAQ:) stock from $911 to $1,177 on Monday, citing “still-improving industry contact feedback.”
“NVDA is *the* AI company. Its leading position in parallel compute & AI is owing less to its chips and more to its culture of innovation, ecosystem of incumbency, and massive investment in software, services & models,” said analysts.
They think that the upcoming GTC keynote will showcase NVDA’s expanding and deepening AI leadership.
According to their contacts in the industry, both buyers and sellers of electronic components have observed for at least a year that demand for Nvidia’s products seems poised to accelerate in 2025, challenging the main bearish argument of a cyclical downturn for the chipmaker in that year.
Truist’s recent checks have uncovered even stronger near-term demand for Nvidia’s datacenter offerings, especially for the CPU-GPU combination product, Grace-Hopper.
“We believe the recently strong datacenter results have mostly come from the more traditional Hopper GPU architecture,” analysts said.
NVDA rose roughly 5% at the market open.
