Analysts Still Bullish on Nvidia, Dell, and Quantum Computing

• RBC initiated Nvidia with a $240 target, citing $500B+ backlog and surging enterprise demand.

• Barclays upgraded Dell to overweight on AI server order strength and expanding enterprise opportunities.

• Rosenblatt initiated Quantum Computing with a buy rating, citing legitimate quantum assets across multiple domains.

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Analysts at RBC just initiated coverage of Nvidia (NASDAQ: NVDA) with an outperform rating and a $240 price target. The firm cited NVDA’s $500 billion+ backlog, inferencing demand, and surging enterprise demand as reasons for further growth.

In addition, analysts at Rothschild Redburn reiterated a buy rating on NVDA with a price target of $268. The firm believes NVDA will remain a positive outlier with regard to size, growth, and profitability.  They also believe its moat will continue to become even stronger than expected.

Technically, NVDA just broke above its 50-day moving average to the upside.

From here, if it can break above resistance at around $193.63, it could retest $200.

Analysts at Barclays just upgraded Dell (NYSE: DELL) to an overweight rating, citing strength in Dell’s AI server orders, stability of its AI operating markets, and expanding opportunities in enterprise server and storage. The firm maintained its price target of $148 a share.

“We are more positive on DELL given the strength in AI server orders, stability of AI op margins, expanding opportunities in enterprise server and storage, and DELL’s consistent disciplined opex management,” they added, as quoted by CNBC.

After finding strong double bottom support at $115, Dell is just starting to pivot higher. Last trading at $123.18, we’d like to see it initially retest $130 a share.

Analysts at Rosenblatt just initiated a buy rating on Quantum Computing (NASDAQ: QUBT).

The firm noted the company “has legitimate quantum assets across photonics, compute, security, and sensing as well as burgeoning thin film lithium niobate (TFLN) fabs that could supply both their and industry needs for integrated quantum photonics, nonlinear optics, and optical waveguides,” as quoted by CNBC.

We also have to remember that this powerful technology is set to revolutionize industries from healthcare and finance to cybersecurity and energy — solving problems that today’s fastest supercomputers can’t touch.

Quantum computing may even be able to help advance artificial intelligence, machine learning, financial modeling, cybersecurity, batteries, and even help with the green energy boom.