《大行報告》匯豐研究升NVIDIA(NVDA.US)目標價至835美元 評級「買入」
匯豐研究發表報告指,由於市場預期不斷提高,因此與去年相比,NVIDIA(NVDA.US)盈利增長勢頭似乎見頂,認為新的總潛在市場(TAM)機會帶來的重新評級會是股價進一步上升的主要驅動力。該行對NVIDIA目標價由800美元上調至835美元,維持「買入」評級。
匯豐研究認為,NVIDIA於2025財年第一季業績指引不太可能超出市場預期,並預計2024財年第四季的銷售額為206億美元,與市場預期的205億美元一致,並略高於管理層預期的200億美元。該行將NVIDIA於2025財年和2026財年銷售額預測分別下調7%和14%,目前預計B100 GPU可能會延遲推出,而且降低AI GPU的平均銷售價格假設。
不過,該行上調2025財年和2026財年營業利潤假設,因此每股盈利預測的下行幅度有限。修訂後的2025財年和2026財年每股盈利預測分別為23.86美元和30.20美元,仍高於市場預期的21.52美元和25.86美元。
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