Morgan Stanley Reiterates Overweight on NVIDIA, $210 Price Target

Morgan Stanley analyst Joseph Moore reiterated an Overweight rating and $210 price target on NVIDIA (NASDAQ: NVDA).

“Takeaways from the keynotes: The key message throughout was that the emergence of the new AI factory business model is creating big challenges in the industry that Nvidia is best positioned to address with the move from hopper to Blackwell and eventually to Rubin.

Already management sees $500bn so far of cumulative demand through end of 2026.

The company said that Vera Rubin system readiness ahead of launch next year is progressing well, not just with chip but full systems as well.

GB200 NVL72 demand said to be “exceptionally strong”, with $500T in total Blackwell+Rubin revenue through CY26, which implies material upside potential We tend to rely more on our checks than this type of commentary, but in this case it matches very strong industry commentary The bottom line is that demand remains very strong, and we think that management’s willingness to provide that visibility should improve the multiple vs peers Also focused on comm infrastructure, quantum, and a detailed & compelling view of the complexity of inference workloads.”

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