DA Davidson maintains a neutral rating and $135 price target on Nvidia (NVDA), noting that while the company made several announcements at CES that bode well for its presence in many AI categories beyond its current success in the data center, the company believes 2025 will be a banner year as its largest customers will moderate spending in 2026. The company added that Nvidia stock had reacted poorly to the lack of material updates on Blackwell shipments or next-generation data center products in the company’s CES presentation.
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