Key Analyst Moves in AI Stocks This Week

Nvidia Upgraded by New Street: An Opportunity Amid a Pullback
New Street Research has upgraded NVIDIA Corporation to a Buy rating, setting a target price of $120. This decision comes after a significant decline in Nvidia's stock since June, presenting what analysts see as a favorable opportunity to increase exposure to the company. The recent dip is partially due to potential delays in the release of its Blackwell chip, which could affect shipment timelines until early 2025. Experts note that Nvidia might counter this by extending the lifecycle of its existing Hopper chip or introducing a simplified version of Blackwell, which could still offer performance improvements. Moreover, Nvidia's strong market position in the data center sector, despite competition from companies like AMD, supports a positive long-term outlook. Analysts expect a 30% growth in AI infrastructure spending by 2025, driving semiconductor spending upward by 50% annually.