According to Rosenblatt, Nvidia’s impressive ascent is still in its early stages. After the chipmaker exceeded expectations for the second quarter and provided positive guidance, the firm raised its price target to $1,100 from $800, the highest among Wall Street analysts. This new target represents a potential upside of over 133% from the previous day’s close. Analyst Hans Mosemann described Nvidia’s AI growth story as “the mother of all cycles” and expressed confidence in its multi-year growth prospects due to the expanding data center and AI inferencing opportunities. Despite supply constraints in the near-term, Mosemann believes these will be lifted by 2025, leading to a significant increase in the company’s earnings per share power.
Nvidia’s new platforms, such as hopper, L40S, and Grace-Hopper, are expected to drive further upside, according to the analyst. Mosemann also emphasized Nvidia’s unmatched software capabilities and exposure to AI and data center tailwinds, which solidify its position as a top secular grower despite competition. Although the stock price already increased by nearly 3%, the raised price target reflects the optimism surrounding Nvidia’s future growth potential.
In summary, Rosenblatt has raised its price target for Nvidia to $1,100, the highest among Wall Street analysts, following the chipmaker’s impressive second-quarter results and optimistic guidance. Analyst Hans Mosemann believes in the long-term potential of Nvidia’s AI growth story, anticipating multi-year growth due to expanding opportunities in the data center and AI inferencing sector. Despite supply constraints in the near-term, Mosemann expects these to be lifted by 2025, leading to a significant increase in the company’s earnings per share power. Nvidia’s new platforms and unmatched software capabilities, combined with its exposure to AI and data center tailwinds, further contribute to its position as a top secular grower.