....As of this morning, at least 15 semiconductor analysts on the Street raised estimates and price targets on Nvidia—and that’s likely not a complete list.
Morgan Stanley analyst Joseph Moore made one of the biggest revisions, lifting his target to $304 from $259. He points out in a research note that the company’s data center business “surged,” growing 33% sequentially in the quarter, “well above other cloud providers, with guidance pointing to continued double-digit [sequential] growth in data center in April.”....
Barclays analyst Blayne Curtis says the beat-and-raise quarter was driven entirely by data center demand. “Cloud vendors should see a step up in spend and clearly Nvidia has a combination of AI drivers layering in on top of this market improvement,” he writes. “On the competitive front, there still appears little competition.”“Net net, this was the Data Center acceleration many hoped for,” Curtis concludes. He repeats his Overweight rating, and ups his target price to $300, from $260.
Raymond James analyst Chris Caso, who repeats his Outperform rating and ups his target to $300, from $240, writes it’s striking that Nvidia posted such strong data center growth ....."