Ashar Jawad
2 min read
In This Article:
On Thursday, Morgan Stanley lifted NVIDIA Corporation (NASDAQ:NVDA)’s stock price target to $170 from $160, while maintaining an Overweight rating for its shares.
A close-up of a colorful high-end graphics card being plugged in to a gaming computer.
The firm’s analyst expressed optimism about the company’s outlook, which stems from several factors. The risks associated with NVIDIA Corporation (NASDAQ:NVDA)’s shipments to China appear to have been mitigated. Customers’ feedback indicates robust demand for the company’s new technologies, leaving room for further growth in demand.
Morgan Stanley’s confidence in sustained high demand for NVIDIA Corporation (NASDAQ:NVDA)’s products has resulted in a 6% increase in the stock’s price target, suggesting that their earlier estimates were conservative.
The revision follows NVIDIA Corporation (NASDAQ:NVDA)’s announcement of Q1 FY26 results on May 28, in which the company reported better-than-anticipated earnings and revenue, driven by its booming data center business, recording a 73% year-over-year growth in revenue.
NVIDIA Corporation (NASDAQ:NVDA)’s shares surged 5% in extended trading with investors encouraged by the news that sales hit from China export restrictions were not as bad as feared, as customers stockpiled the chips before the curbs took effect. However, the ongoing restrictions are expected to impact revenue by about $8 billion in Q2.
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Disclosure: None.
