Nvidia (NVDA) Stock: $300 Price Target And Outperform Rating

By Amit Chowdhry ● May 22, 2022
  • The shares of Nvidia Corporation (NASDAQ: NVDA) have received a $300 price target from Oppenheimer. These are the details.

The shares of Nvidia Corporation (NASDAQ: NVDA) have received a $300 price target from Oppenheimer. And Oppenheimer analyst Rick Schafer is maintaining an “Outperform” rating on the shares.

Schafer adjusted the rating to reflect group multiple compression and prior to the quarterly results. And Schafer sees an upside to the first-quarter consensus sales/EPS of $8.1 billion/$1.30 and Q2 $8.4 billion/$1.36, led by DC. Plus the demand continues to outpace supply, though constraints should ease into the second half of the year.

“NVDA remains (the industry’s) lead AI (hardware/software) provider. A100 continues to ramp for training/ inference workloads. Next-gen H100 ramps in 3Q, further solidifying DC/AI leadership. Demand continues to outpace supply, though constraints should ease into 2H. Nextgen Ada Lovelace performance gaming GPU is expected in 3Q. Our long-term thesis remains intact as NVDA‘s core leading gaming and AI accelerator franchises remain positioned for outsized structural growth,” wrote Schafer in a research note.

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