Citi Increases NVIDIA Price Target to USD 300 Following Strong 1Q Revenue Guidance
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3 days ago
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Source: aastocks
NVIDIA Revenue Guidance: NVIDIA has guided its revenue for the first fiscal quarter to exceed expectations at USD5 billion, with a projected total of USD78 billion due to high demand for AI technologies.
Stock Performance: Despite the positive revenue outlook, NVIDIA's stock price remained flat after market close, as noted in a report by Citi.
Upcoming GTC Conference: Citi anticipates that the upcoming GTC conference in mid-March will positively impact NVIDIA's stock, with expectations for the company to showcase new technologies.
Target Price Adjustment: Citi has assigned a Buy rating to NVIDIA, increasing its target price from USD270 to USD300, reflecting confidence in the company's future performance.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
