Analyst Dan Dolev also increased his price target on shares to $31 from $17, suggesting shares could gain 19% from Tuesday's close.
It also cut its price target to $24 from $38, implying downside of 16.7%.
To be sure, he trimmed his price target to 21 euros from 24 euros.
Analyst Joseph Moore named the chipmaker a top pick, reiterating his overweight rating and $144 price target.
Nvidia shares have more than doubled this year.
Persons:
Morgan Stanley, Nomura, Dan Dolev, Dolev, UPST, Dole, — Hakyung Kim, Samik Chatterjee, Chatterjee, Hakyung Kim, Anindya Das, Das, Joseph Moore, Moore, Fred Imbert
Organizations:
CNBC, Mizuho, Holdings, underperform, JPMorgan, TAM, Nomura, America, Nvidia
Locations:
Mizuho, Tuesday's, North America, U.S, Europe