(News Bulletin 247) – Jefferies reiterates its Buy recommendation on Nvidia shares and raises its price target from $300 to $472.
“We estimate that in the second quarter of 2023, Nvidia’s revenues will exceed Intel and Advance Micro Device and CPU for the first time in history,” the analyst explains.
Consistent with previous computing eras, Jefferies expects Nvidia to ‘continue to take its share of data center processor shipments until it reaches 80%’.
“We are updating our 2026 Power EPS to $17 from $15 primarily based on an upward revision to the net profit margin at the 40 mark,” adds Jefferies.
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