Nvidia is a 'most-own' stock, according to Piper Sandler.
The investment firm named the semiconductor giant its top large-cap pick, citing the launch of Nvidia's upcoming Blackwell chip and lead within artificial intelligence computing.
Analyst Harsh Kumar stood by his overweight rating on the stock and raised his price target to $175 from $140.
Additionally, Nvidia's Blackwell chip should become available in the first quarter of next year and could bring in between $5 billion to $8 billion in revenue, Kumar said.
"As supply improves, we see more customers coming on for Blackwell beyond initial hyperscaler adoption in the following April quarter," Kumar wrote.
Persons:
Piper Sandler, Harsh Kumar, Kumar, Nvidia's Blackwell, Grace Blackwell
Organizations:
Nvidia, Blackwell, Microsoft, Meta