NVIDIA (NVDA) PT Raised to 'Street High' $180 at Citi; Makes $300 Bull Case

Citi raised its price target on NVIDIA (NASDAQ: NVDA) to a 'Street High' $180 and makes a bull case of $300.

While shares have performed strongly YTD, analyst Atif Malik said the following is not in the stock yet:

a) continued growth in data center sales where C17 sales are still ~7% of the projected $30B CY20 opportunity,

b) auto inflection in C18 driven by NVDA’s open source automated vehicle (AV) stack and increased traction with car OEMs this year; and

c) multiple expansion to “software like” IaaS + basic PaaS comps on AI democratization with GPU Cloud offering.

In addition, he said sell side sentiment on the stock remains mixed with 50% hold/sell ratings.

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 $149.12 yesterday.

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