Nvidia Gains as KeyBanc Capital Markets Boosts Price Target

Last updated: July 11, 2024

stock market graphNvidia (NVDA) shares climbed today after KeyBanc Capital Markets raised its price target for the chip giant to $180 per share. This increase underscores confidence in Nvidia’s dominance in the rapidly expanding cloud and business sectors.

Josh Lipton and Julie Hyman of Yahoo Finance delved into what this means for Nvidia’s future. KeyBanc remains optimistic about Nvidia, highlighting its lead in one of the fastest-growing tech workloads. This price target is about $50 above the current level, signaling robust confidence.

John Vinh of KeyBanc noted that, despite the upcoming launch of Blackwell in the second half, there’s no indication of a slowdown in demand. Investors are thrilled to hear that the demand for Nvidia’s GB200 super chip is even higher than initially expected. Vinh predicts that this demand will drive data center revenues to exceed $200 billion by 2025.

This analysis comes at a time when many analysts are conducting supply chain checks to gauge market demand for chips. Nvidia, once again, stands out as a key player in this sector.

Nvidia’s continued growth and market leadership, particularly in cloud and enterprise applications, paint a promising picture for the company’s future. Investors and industry leaders alike are closely watching how Nvidia capitalizes on this momentum.

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