Jefferies sees upside in Nvidia, raises target
Jefferies analysts are bullish on Buy-rated NVIDIA , raising their price target to $150 per share from $135 in a note Monday.
Nvidia, according to analysts, remains"both king and kingmaker" within the AI ecosystem. Their upcoming"AI Bus Tour" aims to gather insights from industry leaders, including Nvidia management. Analysts cite findings from their mid-May Asia trip as a reason for their optimism on Nvidia. They observed a significant increase in chip production capacity planned for the second half of 2024. Data from Fubon, a Taiwanese investment firm, suggests a 25% overall capacity increase for Nvidia, with some partners like Blackwell seeing a 40% jump.
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