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Citi analysts put Nvidia on ‘positive catalyst watch’ for the next 90 days.
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Nvidia shares could rise as much as 27% as CEO Jensen Huang prepares to deliver the opening keynote at CES 2025.
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Nvidia’s GPU chips are central to AI workloads and, increasingly, humanoid robotics.
Analysts at Citi put Nvidia on “positive catalyst watch” for the next 90 days in a recent note.
The company said the chip giant’s shares could rise as much as 27% to its $175 price target through early 2025, as founder and CEO Jensen Huang prepares for his big keynote speech at CES 2025.
The Consumer Electronics Show will be held from January 7 to 10, with Huang delivering the opening keynote on January 6 at 6:30 PM.
The speech will be followed by a question-and-answer session for financial analysts on Jan. 7, Citi said.
“We… open a positive catalyst for CES Jan, where we expect Blackwell sales expectations to rise and management to talk about the inference-driven redirection of industrial demand toward businesses and robotics,” Citi analyst said Atif Malik.
At the CES event, Nvidia will likely further raise its Blackwell product sales expectations as it ramps up production of the next-generation AI chip, Malik said.
Additionally, Malik expects Nvidia management to tell analysts that profit margin will likely decline during the April quarter and rise from there, and talk about an “inference-led inflection” in AI robotics for warehouse, manufacturing and manufacturing use cases even humanoid robots.
Companies like Tesla, Figure.AI, and Boston Dynamics have been developing humanoid robots in recent years, and Nvidia’s GPU chips have taken center stage in these devices.
At Nvidia’s annual GTC conference in March 2024, Huang welcomed nine different humanoid robots to the stage that were powered in part by Nvidia’s chips.
Citi rates Nvidia shares at a “buy” level and raised its price target to $175 from $170 after the company reported third-quarter earnings last week.
Shares of Nvidia are up 176% this year amid the frenzy over the company’s AI-enabled GPU chips.
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