- Prominent bearish analyst Gil Luria of D.A Davidson has reversed his long-standing negative position on NVIDIA stock (NASDAQ: NVDA) with a new “buy” rating.
- Luria has set a bullish price target of $300 for NVDA, representing a potential 33.3% gain from recent levels around $225.
- The analyst cites Nvidia’s foresight in securing exclusive long-term supply agreements for critical components like high-bandwidth memory (HBM) as a key competitive advantage.
- This strategic move positions the company ahead of competitors amid industry-wide shortages.
In a dramatic shift that has caught Wall Street’s attention, analyst Gil Luria from D.A Davidson has turned bullish on Nvidia stock after years of maintaining a skeptical or bearish stance. The Managing Director and Head of Technology Research now predicts the GPU maker’s shares could climb to $300.
Luria historically issued ‘hold’ or ‘sell’ ratings, warning that the company’s capital expenditure might eventually cool. Consequently, his new optimistic outlook signals a significant change in perception regarding Nvidia‘s trajectory.
He explained the reversal in a client note, highlighting extreme shortages in advanced packaging and specialized memory. Nvidia anticipated these demand patterns and secured exclusive long-term supply agreements to its benefit.
The company has already received advance payments from memory suppliers like SK Hynix and Micron. “Nvidia understood the demand patterns first, which is why it is adapting to memory shortages,” Luria wrote.
This proactive strategy has placed Nvidia ahead of its competitors in navigating the supply chain constraints. Meanwhile, the stock opened Tuesday’s trading session at approximately the $225 level.
Luria’s $300 target implies a 33.3% potential upside from that point. An investment of $1,000 could therefore grow to over $1,300 if this bullish prediction proves accurate.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
