CFRA Research says investors should temper expectations
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According to CFRA Research analyst Angelo Zino, investors should manage expectations around guidance for Nvidia’s highly anticipated Blackwell launch.
“We caution investors to temper expectations for Blackwell inclusion for the Jan-Q outlook (we conservatively look for $3B-$5B in sales), limiting upside to consensus views in the near term as NVDA likely takes a somewhat conservative stance to provide itself with a buffer,” Zino said in a recent note.
Still, Zino expects Blackwell chips will be sold out for much of 2025.
“We expect Blackwell to be supply constrained through CY 25, given heightened demand from hyperscalers to support next-generation data centers. In addition to Blackwell expectations/performance concerns that will likely dominate NVDA’s Q&A session on the call, we expect investors to dissect any comments on tariffs/Sovereign AI after Trump’s victory,” Zino said.
CFRA Research rates Nvidia at “Buy” with a $160 price target.