DA Davidson keeps a Neutral rating and $135 price target on Nvidia (NVDA), noting that while the company has made several announcement at CES that bode well for its presence in many AI categories that go beyond its current success in the data center, the firm believes that 2025 will be a peak year as its largest customers moderate spending into 2026. The firm adds that Nvidia shares had reacted poorly to the lack of material update on Blackwell shipments or the next generation of data center products in the company’s CES presentation.
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