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pafiak wrote a post · Aug 16, 2023 02:20

UBS: Nvidia should be firmly held ahead of earnings, raises price target to $540

Shares of NVIDIA Corporation $NVIDIA(NVDA.US)$ were up more than 1.5% in premarket trading on Tuesday, with UBS saying investors should "stay the course" ahead of the company's fiscal second-quarter results on August 23rd, local time.
UBS: Nvidia should be firmly held ahead of earnings, raises price target to $540
Analyst Timothy Arcuri reiterated his "buy" rating on NVIDIA, saying that investor expectations have risen sharply, but given the pullback the stock has seen over the past month, he remains bullish on the company.

Arcuri also raised its price target on the stock to $540 from $475, saying that the demand side will ultimately determine the company's long-term opportunities in artificial intelligence, but in the short term, it's more about the supply side.

Arcuri expects the company to provide revenue guidance of about $14.5 billion for its fiscal third quarter ending in October, with earnings of about $10 per share for this year and about $17 per share for fiscal 2025.
UBS: Nvidia should be firmly held ahead of earnings, raises price target to $540

Analysts generally expect NVIDIA to report fiscal second-quarter revenue of $11.06 billion and EPS of $2.08. $NVIDIA(NVDA.US)$ $Advanced Micro Devices(AMD.US)$
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