Argus Reiterates Buy on NVIDIA, $270 PT
Argus analyst Jim Kelleher reiterated a Buy rating and $270 price target on NVIDIA (NASDAQ: NVDA).
“Strong performance and guidance for AI leader • Nvidia topped consensus estimates for fiscal 2Q27, with quarterly revenue and non-GAAP EPS rising in triple-digit percentages. • Fiscal 2Q27 Data Center revenue of $89 billion rose 117% from a year earlier, reflecting strong artificial intelligence (AI) networking demand and ongoing demand for graphics processing unitbased (GPU-based) compute solutions across hyperscale and nonhyperscale customers. • Management guided for fiscal 3Q27 revenue of $108 billion at the midpoint, about $4 billion higher than the $103.9 billion consensus estimate and consistent with annual growth in the high-80% to low-90% range. • We look for growth beyond hyperscale data center into AI cloud, enterprise, and the company’s Edge Computing end market, which includes gaming, professional visualization, and automotive.
We are reaffirming our BUY rating and our 12-month target price of $270.”
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