Home Editor's Picks Cantor Fitzgerald raises NVIDIA target; CEO Huang the ‘Soothsayer of Santa Clara’

Cantor Fitzgerald raises NVIDIA target; CEO Huang the ‘Soothsayer of Santa Clara’


Cantor Fitzgerald raises NVIDIA target; CEO Huang the ‘Soothsayer of Santa Clara’ By Investing.com

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AuthorSam BougheddaStock Markets

Published Mar 11, 2024 07:19AM ET

© Reuters Cantor Fitzgerald raises NVIDIA (NVDA) target; CEO Huang the ‘Soothsayer of Santa Clara’

In a note to clients Monday, analysts at Cantor Fitzgerald raised the NVIDIA (NVDA) price target to $1,200 from $900 per share. The firm maintains an Overweight rating on the stock.

Analysts described Nvidia (NASDAQ:NVDA) CEO Jensen Huang as the “Soothsayer of Santa Clara.”

For semiconductor stocks in general, Cantor Fitzgerald expects “few potential catalysts this week with investors digesting news flow from a competitor’s conference last week while gearing up for NVDA’s GTC conference next week.”

“NVIDIA will be hosting its GTC conference March 18th-21st, the first ‘live’ conference in 5yrs. While many of the meetings will be at the San Jose convention center, CEO Jensen Huang’s Keynote (scheduled for 1-3 pm PT Monday) has moved to the 18,000-seat SAP Center,” explained the firm. “So move over ‘”Oracle of Omaha,'” bring on the ‘”Soothsayer of Santa Clara.'”

Jensen is expected to offer insights into his vision for the future of AI at the conference. Cantor continues to highlight NVIDIA as an Accelerated Computing Platform Company geared to democratize AI “through a complete portfolio offering a complete hardware suite as well as a full end-to-end software stack supporting numerous domains, including large language models, biology, cybersecurity, data center and cloud computing, Conversational AI, networking, physics, robotics, and quantum, scientific, and edge computing.”

Analysts believe that with Generative AI at a tipping point across countries, industries, and nations, the “transformation potential is incredible.”

Cantor Fitzgerald raises NVIDIA target; CEO Huang the ‘Soothsayer of Santa Clara’

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