Rosenblatt reiterates Buy on Nvidia; keeps $390 target
Rosenblatt analyst Kevin Cassidy reiterated a Buy rating on Nvidia and kept a $390 price target, framing the Hugging Face acquisition as a signal for the chipmaker’s broader AI strategy.
Nvidia investors may be focusing too much on the $12.93 billion price tag attached to its Hugging Face acquisition and not enough on what the deal signals about the chipmaker's broader AI strategy, Rosenblatt Securities analyst Kevin Cassidy said. Cassidy reiterated his Buy rating and $390 price target on the stock.