Nvidia stock downgraded to Neutral due to limited upside

From Investing.com: 2024-07-07 09:33:17

New Street Research downgrades Nvidia stock to Neutral from Buy due to limited upside based on GPU revenue growth projections and potential risks to revenue growth. The firm values Nvidia at 35x earnings with a target price of $143 by 2026.

UBS downgrades Pure Storage to Sell, citing slowing growth, declining market share, and high valuation. The analysts forecast PSTG’s growth to slow to 8% over the next five years and expect the company’s all-flash storage market share to stabilize around 15%.

Bank of America adds Dell to their US 1 List as a top investment pick, raising the target price to $180 from $130. BofA highlights positive factors such as AI server demand, storage demand, and Dell’s new AI product offerings supporting growth leading into 2025.

Mizuho analysts report that Amazon is nearing a key AI inflection point, accelerating AWS sales cycle with trends towards higher-value services. Mizuho sees potential surges in inferencing activity with external-facing models close to commercial deployment.

Bank of America raises price targets for European chip stocks, including Nokia, Nordic Semiconductor, Technoprobe, and Comet. BofA sees continued strength in AI demand driving the semiconductor sector, with ASML remaining a top pick for lithography intensity needed for AI chips.



Read more at Investing.com: Nvidia downgraded on ‘limited further upside’ By Investing.com