- Morgan Stanley analyst Joseph Moore reinstated NVIDIA Corp (NASDAQ:NVDA) with an Equal-Weight and a $217 price target.
- The price target implies an upside of 11.9%.
- Moore observes that Nvidia has "differentiated" offerings in the cloud and artificial intelligence and a leading position in gaming.
- Moore also highlighted concerns about a slowdown in gaming and its high valuation compared to its peers offset by a robust data center exposure leading to solid near-term gaming numbers.
- Moore noted that Nvidia's high-performance computing and cloud business is now one of the largest in the industry, and its demand drivers are still growing.
- Price Action: NVDA shares traded lower by 0.26% at $194.82 on the last check Tuesday.
