4 big analyst picks: Nvidia racks up 3 new buy calls after blowout numbers
Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at Nvidia, Avery Dennison, Fulcrum Therapeutics, and Louisiana-Pacific.
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Nvidia (NASDAQ:NVDA) was upgraded by three Wall Street firms after the company's Q2 results and new guidance smashed analyst expectations. Shares surged more than 8% premarket today.
Stifel, upgrading the company to Buy from Hold with a significantly higher price target of $600 (vs. the prior $440), called the quarter «exceptional,» commenting:
«While we have long viewed NVDA as the primary beneficiary of the increasing investments being made on large language models/generative AI training clusters, we underestimated the opportunity related to the potential shift of $1 trillion of installed data center infrastructure from general purpose compute to accelerated compute architectures.»
Meanwhile, Exane BNP Paribas upgraded to Outperform from Neutral with a price target of $745, and WestPark added its own Buy stamp with a $690 price target.
Elsewhere, Goldman Sachs maintained its Buy rating and sharply raised its own price target shares, to $605 from the prior $495, saying, «we expect Nvidia to maintain its status as the accelerated computing industry standard for the foreseeable future.» And {0||Morgan Stanley}} — which maintained its own Overweight rating on the stock — called the quarter «exceptional,» adding:
«Last quarter was the first time in semis history that we saw a company guide revenues $4 bn above consensus; with admittedly higher expectations this quarter, NVDA did it again, with its data center business growing more than 3x in 6 months.»
The company’s Q2
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