Citi Reiterates Buy Rating on NVIDIA (NVDA) Following CES Lunch

Citi analyst Atif Malik reiterated a Buy rating and $245.00 price target on NVIDIA (NASDAQ: NVDA).

The analyst comments "Expecting a good holiday season with Singles Day sales in Nov and Chinese New Year through Jan. China is an opportunity in accelerated computing with 3 hyper scalers who are moving forward. A year into ray tracing, there are two dozen games coming to the market with ray tracing and Nvidia has the only ray-tracing chip in the market. RTX platform is currently 60% of desktop sales and MaxQ is a big driver of notebook sales. G sync monitor exclusive announcement with LG with new 360 Hz vs old 60Hz is targeting eSports. Moreover, Tencent cloud gaming partnership with a lead gaming player is key."

For an analyst ratings summary and ratings history on NVIDIA click here. For more ratings news on NVIDIA click here.

Shares of NVIDIA closed at $237.06 yesterday.

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