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SOXX 288.52-0.3%Nov 14 4:00 PM EST

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From: Julius Wong2/13/2024 11:50:48 AM
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Nvidia's price target increases 32% on AI wave: Mizuho

Feb. 13, 2024 11:30 AM ET
By: Brandon Evans, SA News Editor
24 Comments
Justin Sullivan/Getty Images News

Nvidia's (NASDAQ: NVDA) price target was raised from $625 to $825 by analysts at Mizuho Securities ahead of it its latest financial results surfacing next week.

"We continue to see NVDA as the best AI/ML play, pushing the tip of the spear in AI training," said Mizuho's Vijay Rakesh in an investor note Tuesday.

"We believe NVDA currently dominates the AI server market, and we expect it to maintain its significant market share," Mizuho added.

After dropping slightly during early morning trading, Nvidia ticked up about 1% to $728 near noon Tuesday.

Nvidia's stock price has shot up 45% since Jan. 1.

The firm also increased Broadcom's ( AVGO) price target to $1,450 from $1,250. Advanced Micro Devices ( AMD) received a price target push to $200 from $175. Mizuho maintains a Buy rating for all three stocks.
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