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On Tuesday, KeyBanc Capital Markets sustained their optimistic view on NVIDIA Corporation (NASDAQ:NVDA), maintaining an Overweight stock rating and a $190.00 price target. The firm’s analysts highlighted a strategic shift by NVIDIA back to the Bianca compute board for its upcoming Blackwell Ultra product. This move is seen as beneficial for NVIDIA, particularly in light of the anticipated back-end loaded shipments of the 30K GB NVL rack this year.
According to KeyBanc, NVIDIA’s decision to revert to the Bianca compute board, which consists of one CPU and two GPUs, from the previously planned Cordelia board, with two CPUs and four GPUs, is a positive development. This change is expected to simplify the transition to the GB300 and provide a seamless replacement for NVIDIA’s NVL72 rack structure from GB200 to GB300. The analysts believe this adjustment will mitigate potential disruptions caused by the delay of Blackwell Ultra and will support NVIDIA’s shipment targets.
The firm’s analysts have reiterated their confidence in NVIDIA’s stock, maintaining the price target of $190, which is based on a 32x multiple of their fiscal year 2027 earnings per share (EPS) estimate of $6.02. At the time of the report, NVIDIA’s shares were trading at a forward price-to-earnings (P/E) multiple of 17x, which is below the industry peers’ average forward P/E multiple of 20x.
KeyBanc’s analysts view NVIDIA as uniquely positioned to capitalize on the continued growth in artificial intelligence (AI) and machine learning (ML) within the data center sector. Despite the delay in the release of Blackwell Ultra, the analysts’ outlook remains positive, as the strategic product decisions are expected to align with the company’s shipment goals for the year.
In other recent news, Monolithic Power (NASDAQ:MPWR) Systems has made significant changes to its corporate governance by amending its bylaws to allow shareholders holding at least 30% of the company’s stock to call special meetings. This move, detailed in a recent SEC filing, empowers shareholders with greater influence over company matters. Meanwhile, Stifel analysts have adjusted their price target for Monolithic Power Systems from $1,100 to $880, maintaining a Buy rating despite concerns over potential revenue forecasts for the second quarter of 2025. Truist Securities also reaffirmed a Buy rating with a price target of $897, highlighting Monolithic Power’s innovation in the analog semiconductor sector as a key driver of revenue growth.
Additionally, Needham analysts maintained a Buy rating with an $800 price target, citing increased guidance for the first quarter of 2025 and emphasizing the company’s focus on expanding its serviceable available market. The introduction of new products and deeper market penetration in sectors such as automotive and AI/cloud computing are seen as pivotal to this growth. Monolithic Power Systems is also planning to launch its innovative 3A/mm² solutions in 2026, targeting growth within the Enterprise Data Center segment. These developments reflect the company’s strategic positioning and potential to capitalize on emerging opportunities in various sectors.
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