Goldman Sachs analyst Toshiya Hari reinstated coverage of NVIDIA Corp. with a Neutral rating and a $245 price target, representing a 7 percent potential upside.
The analyst continues to view NVIDIA as an industry leader in accelerated computing.
He expects the proliferation of artificial intelligence and machine learning to drive earnings growth and a valuation multiple that exceeds the industry average over the long run.
However, Hari believes the risk/reward on the stock is fairly balanced on a 12-month basis.
By Anusuya Lahiri
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