(News Bulletin 247) – Wells Fargo reiterates its ‘overweight’ advice and raises its price target from 320 to 450 dollars on Nvidia, the day after the results published by the supplier of programmable graphics processors, accompanied by prospects widely welcomed on the stock market.
‘Nvidia’s bullish momentum based on artificial intelligence provides additional validation of the key principles of our thesis’, judges the broker, which raises its revenue and EPS forecasts for the 2024 to 2026 financial years.
“The market for data center GPUs is significantly larger than expected – Nvidia’s results lead us to expect an increase from our current estimate of around $34 billion by 2027,” he said.
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