TD Cowen Reiterates Buy on NVIDIA, $140 Price Target
- Rating
- Buy
- Price target
- $140
- Implied upside
- +25%
- vs $112.20 prior close
TD Cowen analyst Joshua Buchalter reiterated a Buy rating and $140 price target on NVIDIA (NASDAQ: NVDA).
“NVIDIA disclosed the China-focused H20 is now subject to license requirements, resulting in up to $5.5B of inventory and other charges in the forthcoming AprQ.
While seemingly reigniting a near-term overhang for the stock, we note that Blackwell and the overall environment for sustainable AI demand remain the predominant driver of narrative and fundamentals.
Reiterate Thesis: NVIDIA Is The AI Leader: While we acknowledge near-term headwinds for NVIDIA (and peers alike) related to sales into China, we remain confident that NVIDIA is the leader in accelerated computing.
We believe the CPU/GPU/DPU combination of Grace/ Blackwell (eventually to Vera/Rubin) systems positions the company to sustain strong Datacenter growth in the coming years irregardless of any potential China-related issues longer-term.”
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Tracking this call
Since this note+105% NVDA $112.20 → $230.48 (Oct 9) · target reached
Firm track recordTD Cowen: 71% of its 7 targets at least a year old were reached within 12 months (#9 of 14 firms); on NVIDIA, 2 of 2. Accuracy ranking →
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