(News Bulletin 247) – Bank of America raised its price target on Nvidia on Tuesday from $215 to $255, while maintaining its buy recommendation on the chip designer’s title.
In a research note, the broker explains that the ‘war’ launched by the technological giants in order to seize artificial intelligence technologies could result in a fourfold increase in the number of data centers in the next five years .
For the manufacturer of graphics processors, this dynamism could be synonymous with an average annual growth of 25% to 34% of its turnover by 2027, underlines BofA.
While the stock could be faced with an access of volatility in the short term, in particular due to its recent stock market surge (+46% since the start of the year), the broker believes that the group is ‘solidly positioned’ on the long term.
He also makes action one of his favorite values ​​within the IT sector.
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