Piper Sandler Upgrades NVIDIA to Strong-Buy on AI Growth Outlook

Piper Sandler has upgraded NVIDIA (NASDAQ:NVDA) to a 'strong-buy' rating, joining other analysts who have expressed positive sentiment on the stock. Citigroup and Citic Securities have both reiterated 'buy' ratings with price targets of $315.00.

NVIDIA reported quarterly revenue of $96.22 billion, up 106% from last year, exceeding estimates and reinforcing expectations for continued data-center demand.

CEO Jensen Huang stated that revenue could grow roughly 70% next year, while the company's next-generation Rubin platform is already shipping.