My top 10 things to watch Thursday, Feb. 27
1. Nvidia shares were up roughly 2% in premarket trading, the morning after the artificial intelligence chip giant eased DeepSeek and Blackwell concerns and delivered a quarterly beat and guidance raise. For now, we're reiterating our 2 rating and $165-per-share price target. The stock remains below its Jan. 24 close around $142, the Friday before all the DeepSeek turmoil started.
2. Bernstein, Morgan Stanley, and Bank of America all hiked their Nvidia price targets. BofA was the highest of the bunch, going to $200 per share. To be sure, there was some caution. While keeping its buy rating, Citi analysts think the Club stock will likely be rangebound in the near future.
3. Nvidia, a so-called expensive stock, has a habit of looking cheaper in the rearview mirror on a valuation basis. And, we shouldn't lose sight of how primitive current iterations of AI are right now. Fundamentally, we need better ones that can actually reason going forward, which requires more computing power. It was a monster quarter, yet Nvidia is still doubted.
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