
Rosenblatt Securities hiked their Nvidia (NASDAQ:NVDA) stock price target from $140 to $200, representing a new Wall Street high.
“We see Nvidia's Hopper, Blackwell, and Rubin series driving "value" market share in one of Silicon Valley's most successful silicon/platform product cycles,” the investment bank’s analysts said in a note.
While future gains in adjacent networking Switch, Network Interface Card (NiC), and Data Processing Unit (DPU) share are promising, the real story is in the software that improves the hardware capabilities, Rosenblatt’s team highlights.
The analysts expect the software aspect to significantly increase in the overall sales mix over the next decade, positively impacting valuation due to its sustainability.
As such, they project Nvidia to achieve $5.00 EPS or more by 2026. Based on this, and their existing 40x price-to-earnings (P/E) multiple for valuation, analysts have raised their price target on the stock.
Earlier this month, NVDA stock started trading on a split-adjusted basis. The company's shares have risen around 8% since then.
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