NVIDIA (NVDA) PT Raised to $600 at JPMorgan, 'Early Innings Of Generative AI'

JPMorgan analyst Harland Sur raised the price target on NVIDIA (NASDAQ: NVDA) to $600.00 (from $500.00) while maintaining a Overweight rating.

The analyst comments "We believe NVIDIA continues to execute across all segments. While 1H is typically seasonally weaker than 2H, we expect solid demand in PC gaming to be a strong revenue driver for the company, offsetting PC OEM, which is in secular decline. We expect the data center segment to grow strongly as hyperscale customers continue to embrace GPU-accelerated deep learning for processing large data sets. We are encouraged by strength in the automotive and enterprise segments as well, although strong adoption of autonomous driving in the market remains to be seen. We anticipate significant upside in the shares, driving our Overweight rating."

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