Morgan Stanley Reiterates Overweight on NVIDIA, $288 PT

Morgan Stanley analyst Joseph Moore reiterated an Overweight rating and $288 price target on NVIDIA (NASDAQ: NVDA) after NDR highlights diversified growth opportunities.

“NVIDIA NDR with the executive team highlighted high confidence in an accelerating and diversifying growth story that should show appeal to value investors as well as growth.

Key takeaways included: Accelerating growth still the focus from here; Citing growth from AI lab share gains, from hyperscalers, but also from a broader base of neoclouds, enterprise, and sovereigns; Hyperscale remains a strong growth vector with networking & CPU adding to SAM; As space, power, and geopolitics are central to decision making sovereign and neoclouds could outpace over time; Increasing focus on value based investors – in addition to core growth – could be key to closing value gap vs. peers; reiterate OW/top pick in semis.”

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