Nvidia gets Street-high target ahead of 'strong' earnings

Aug. 17, 2020 9:34 AM ETNVIDIA Corporation (NVDA)NVDABy: Brandy Betz, SA News Editor43 Comments
  • Nvidia (NASDAQ:NVDA) will report Q2 results after the bell on Wednesday, and analysts expect a strong print and outlook.
  • Susquehanna analyst Christopher Rolland (Positive) raises NVDA from $450 to the Street-high $540, believing the Ampere gaming GPUs coming next month will offset the expected H2 data center slowdown, which will help Nvidia raise its outlook.
  • Rolland: "While Intel and others prognosticate a 2H data center slowdown, we believe the setup remains favorable for Nvidia, helped by the relatively new launch of the A100."
  • Oppenheimer (Outperform) raises Nvidia's price target from $400 to $500 expecting a "strong" Q2 print this week, driven by data center and AI.
  • Analyst Rick Schafer echoes the forecast for an H2 slowing in data center and cloud spending after an outsized year of investments, but also expects gaming to offset the headwind.
  • More price target action: Wells Fargo (Overweight) from $430 to $510.
  • Nvidia shares are up 3.1% to $476.78.
  • Here's a look at NVDA's earnings surprise history versus consensus:

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