Nvidia Stock Seen Reaching New High On ‘Robust’ Sales

The investment bank Morgan Stanley raised its price target on Monday Nvidia (NVDA) Aftermarket inventory checks showed “robust” demand for the company’s current data center processors.

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Analyst Joseph Moore raised his earnings estimates for Nvidia after audits of his company’s channels in Taiwan and China. These checks showed continued high demand for Nvidia’s Hopper series products.

However, he was cautious about transitioning to Nvidia’s next-generation Blackwell series products later this year.

“It is clear that we are at the end of the hopper cycle, and foam and visibility are lower than before,” Mr. Moore said in a note to a client. He added that the complexity of Blackwell Series products could make “the ramp difficult.”

Nvidia stock sees price target increase

Moore maintained his overweight, or buy, rating on Nvidia shares. It also raised its price target from 116 to 144. This price target is above Nvidia stock’s all-time high of 140.76, reached on June 20.

In the afternoon, discussions on the Stock market todayNvidia shares rose 0.3% to 123.96.

On May 23, Nvidia stock broke a 10-week high consolidation model has point of purchase of 97.40, according to Increase in ITN market graphics.

“We are not hammering the table at these levels given the strong appreciation since the last earnings report, but this remains the most compelling narrative in the AI ​​semiconductor space, and as we move from the H100 to the H200 to Blackwell, the visibility and order book will improve significantly,” Mr Moore said.

He added: “We remain conservative beyond a 12-month visibility level, given how quickly AI investments have grown amid still uncertain returns.”

Nvidia stock is on four IBD lists: MII 50, Ranking, Industry leaders And Technology leaders.

Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more articles on consumer technology, software and semiconductor stocks.

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