KeyBanc increases NVIDIA shares target, highlights robust product demand

👉 Key Highlights:
📍 KeyBanc raised NVDA stock price target to $180 from $130.
📍 KeyBanc maintains an Overweight rating on NVDA stock.
📍 Strong demand signals for NVIDIA's products, especially in the data center segment.
📍 No indication of demand slowdown for the H100 with continued rush orders.
📍 Higher interest and demand for NVIDIA's GB200 than anticipated.
📍 Majority of product mix expected to be the NVL72 model over NVL36.
📍 Current demand trajectory for GB200 could support over $200 billion in revenue by 2025.
📍 New Street Research downgraded NVIDIA from Buy to Neutral due to concerns over revenue growth and competitor market share.
📍 NVIDIA to face antitrust charges in France for alleged anti-competitive behavior.
📍 Shareholders approved all twelve director nominees and several significant proposals at the 2024 Annual Meeting.
📍 NVIDIA briefly surpassed Microsoft in market value, contributing to a tech sector leap.

👉 Expert Statement
🗨️ "Despite the upcoming second half of 2024 launch of NVIDIA's Blackwell, there is no indication of a demand slowdown for the H100, with rush orders continuing to come in," notes the analyst.
🗨️ "The GB200, NVIDIA's latest offering, is seeing higher interest and demand than initially anticipated."
🗨️ "The current demand trajectory for NVIDIA's GB200 is poised to bolster data center revenues, projecting that it could support over $200 billion in revenue by the year 2025," reports KeyBanc.