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Benzinga
Benzinga
Business
Anusuya Lahiri

Here's Why Morgan Stanley Remained Bullish On Nvidia

Nvidia Morgan Stanley Joseph Moore NVDA Nasdaq Nvidia Corp Artificial Intelligence
  • Morgan Stanley analyst Joseph Moore reinstated NVIDIA Corp (NASDAQ:NVDA) with an Equal-Weight and a $217 price target.
  • The price target implies an upside of 11.9%.
  • Moore observes that Nvidia has "differentiated" offerings in the cloud and artificial intelligence and a leading position in gaming. 
  • Moore also highlighted concerns about a slowdown in gaming and its high valuation compared to its peers offset by a robust data center exposure leading to solid near-term gaming numbers.
  • Moore noted that Nvidia's high-performance computing and cloud business is now one of the largest in the industry, and its demand drivers are still growing.
  • Price Action: NVDA shares traded lower by 0.26% at $194.82 on the last check Tuesday.
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