Mizuho boosted its price target on Nvidia to $825 from $625 dollars while keeping a buy rating on the shares. Analysts increased estimates and expect strong earnings from the company.
The firm sees a steady first half of 2024 ramps, followed by an accelerating artificial intelligence ramp in the second-half of the year. Mizuho said that it continues to see Nvidia as the best AI machine learning play.
UBS raised its price target on Nvidia to $850 from $580 and keeps a buy rating on the shares. UBS said it expects a strong earnings beat and raise when Nvidia reports next week.
The firm said that customer discussions confirmed that Nvidia’s lead times have come in substantially over the past month past few months.