(News Bulletin 247) – Wedbush retains its Neutral rating on the Nvidia stock but raises its price target to $290 (from $216).
‘We believe that Nvidia will exceed current objectives and that it will offer solid prospects’, begins the analyst for whom the question is rather to know ‘the extent and nature of the increase that Nvidia will achieve’.
“Ultimately, we see virtually no risk that Nvidia will not deliver this quarter or as far as forecasts are concerned,” the broker adds.
And to explain that he based his price target on “a PE multiple of nearly 40X applied to our estimates for the fiscal year 2026, plus net cash”, explains the analyst.
This assumed multiple is ‘the typical forward multiple that NVDA achieved during its last period of accelerated data center growth, from early 2020 through late 2021’, Wedbush clarifies.
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