Nvidia (NVDA) is advancing 1.6% after Bank of America and WestEnd Capital Management expressed bullishness about the company and its shares in the wake of its fourth-quarter results.
WestEnd Is Upbeat on NVDA’s Blackwell Chip
“Based on (Nvidia’s) Q4 numbers and also on (its) guidance, it seems like the demand for (its new) Blackwell” chips “is very, very strong,” WestEnd Capital Management Senior Equity Analyst Ali Mogharabi told Yahoo Finance late yesterday.
Mogharabi believes that the overall “demand for more customized chips could actually increase…as inference continues to improve, (and) the application of all of this AI technology widens.”
Bank of America Called NVDA “a Top Pick”
Labeling NVDA stock a “top pick on AI dominance,” Bank of America increased its price target on the shares to $200 from $190. The bank believes that the chip maker’s data center business, whose revenue reached record levels in Q4, can benefit from ” strong, long-term demand dynamics.”
More Information About NVDA Stock
The shares are changing hands at a forward price-to-earnings ratio of 28 times.
NVDA is up 2% in the last month and it is down 12% in the last three months, while it has dropped 9% so far in 2025.
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This article is originally published at Insider Monkey.
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