Artificial intelligence remains the key theme in technology companies’ earnings. Those on the prowl for attractive AI plays will obviously look at Nvidia. They should also watch Cisco, according to analysts at Melius Research.
Nvidia investors shouldn’t worry, according to Melius analyst Ben Reitzes. He argues Nvidia will find other buyers for its chips and expects the company to be able to give details about potential redistribution of products meant for China to the Middle East and other regions when it delivers earnings on Nov. 21.
Reitzes has a Buy rating and two-year target price of $730 on Nvidia, based on a price-to-earnings multiple of 35 times the company’s forecast 2026 earnings.
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