Wall Street Turns Bullish on NVIDIA (NVDA) as AI Compute Drives Growth

NVIDIA Corporation (NASDAQ:NVDA) is one of the AI Stocks on Wall Street’s Radar. On September 11, D.A. Davidson upgraded the stock to “Buy” from Neutral and with a price target of $210, up from $195. The firm said that it is getting more bullish on the stock.

According to the firm, the growth in AI compute demand is going to drive enough demand that will sustain Nvidia’s growth next year and even beyond.

“We believe the growth in AI compute demand will drive enough demand to sustain NVDA’s growth into next year and likely beyond. While there are still several cross-currents, we believe those are not enough to change that trajectory and are upgrading to BUY from Neutral, raising our price target to $210 from $195.”

“Our increasingly optimistic view of the growth in AI compute demand supersedes our list of concerns regarding NVDA. Our perspective that AI will transform work through labor itself, as opposed to the IT tech stack, lends itself to a continued ramp in compute demand even before enterprise customers see a return on investment.”

NVIDIA Corporation (NASDAQ:NVDA) specializes in AI-driven solutions, offering platforms for data centers, self-driving cars, robotics, and cloud services.

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Disclosure: None.