Here’s Why BofA Views Nvidia As Leading Growth Company In Semis

Here’s Why BofA Views Nvidia As Leading Growth Company In Semis

BofA analyst Vivek Arya reiterated a Buy rating and a $375 price target (71.1% upside) on NVIDIA Corp (NASDAQ: NVDA) and a Top Pick designation.

Arya saw the Baird downgrade-related selloff as likely done. Truist also slashed the price targets on the chipmakers.

Arya acknowledged that Nvidia's gaming business was vulnerable to weaker demand from Europe due to the Russia-Ukraine crisis and the China lockdown impact.