$NVDA Goldman Sachs raises Nvidia price target
Goldman Sachs believes strong demand for artificial intelligence compute should help drive Nvidia shares higher.
Analyst Toshiya Hari increased his price target on Nvidia shares to $150 from $135, implying 11.3% upside potential from Thursday’s close. He also reiterated his buy rating on the chipmaker.
Many investors had previously perceived AI Inference — when an AI model is shown new data and draws conclusions — as a less intense segment, according to Hari. However, he said the intensity of Inference is rising and “could grow exponentially in the future,” driving his estimates for Nvidia higher.”
Importantly, supported by its full-stack approach, we believe Nvidia is well-positioned to capture this growth opportunity in Inference (which is already nearing ~50% of the company’s Data Center revenue),” Hari wrote in a Friday note.Forward visibility in the data center segment also remains strong, Hari added.
Year to date, Nvidia shares are up 172.2%. Shares were last trading 0.4% lower.
—Hakyung Kim