In an example of that positive sentiment, Morningstar analyst Abhinav Davuluri wrote recently, “After taking a fresh look at our thesis on Nvidia, we are raising our moat rating to wide from narrow, thanks to intangible assets related to the design of graphics processing units (GPUs).”
Nvidia recently traded at $757.42, up 4%. It has jumped 47% over the past six months amid its strong financial performance.
Earlier this month, Nvidia received a price-target increase from Truist to $910 from $768, based on data-center trends and software monetization. The investment firm affirmed its buy rating on shares of the Santa Clara, Calif., company.
In addition, KeyBanc analyst John Vinh lifted his one-year price target on Nvidia to $950 from $775. That came after BMO Capital Markets analyst Ambrish Srivastava lifted his price target on the chip titan to a Wall Street high of $1,000 from $975 and affirmed an outperform rating.
Analysts have piled on the praise for Nvidia since the company’s first-quarter results, which came in better than expected.
TheStreet's Brent Kenwell wrote July 8 that after a recent decline Nvidia shares represented a buy-the-dip candidate.