Deutsche Bank has raised Nvidia’s share price target from $450 to $500 , as the chip-maker prepares to release Q3 2020 earnings report on November 18, according to TheStreet.
- Deutsche Bank expects a solid quarter for Nvidia and believes that its growth in the near term is unparalleled-Ross Seymore, Deutsche Bank analyst.
- Deutsche Bank is impressed with Nvidia’s ability to address rapidly growing sectors such as AI, data center, gaming, and ADAS/AV and remain optimistic the sectors will remain strong in fiscal 2021
- Despite operating in a challenging macro-environment, Deutsche bank believes that Nvidia’s strengths are already reflected in the share price-Seymore
- Deutsche Bank analyst warned that investors should be cautious of the data-center group and that “supply constraints may cap the gaming upside”-Seymore
- Deutsche Bank guides Nvidia’s revenues to $4.71 billion, above $4.41 estimate.
Nvidia stock is currently gaining. NVDA: NASDAQ is up 1.27%
