Jefferies analysts are bullish on Nvidia (NASDAQ: NVDA), increasing their price target to $150 from $135 per share. This optimism stems from positive insights gained during their recent Asia trip and upcoming AI sector meetings.
Nvidia, seen as a dominant player in the AI ecosystem, continues to demonstrate strength, contrasting with concerns over AMD and Marvell. The analysts’ upcoming “AI Bus Tour” will focus on Nvidia’s next-generation GB200 NVL platform and its impact on the industry.
Findings from mid-May indicate a significant increase in Nvidia’s chip production capacity for the latter half of 2024, driving revised estimates for the GB200 NVL volumes. Jefferies anticipates 60,000 units, highlighting further potential upside for Nvidia.
