Evercore ISI calls Nvidia a top play as the earnings season approaches

The firm maintained its outperform rating and $600 price target, which suggests 36.2% upside for the chipmaker.

Evercore ISI is bullish Nvidia , the best-performing S & P 500 stock this year, as the latest earnings season approaches. The firm called the chipmaker a top play and maintained its outperform rating and $600 price target. That forecast suggests 36.2% upside for the semiconductor company. "NVIDIA remains our top pick overall, positioned well into earnings season based on sustainability of AI spend and beat/raise on the come," analyst Matthew Prisco said in a Thursday note.

mountain NVDA in 2023 According to the Evercore ISI analyst, Nvidia's demand is sustainable through the first half of 2024, with networking and HBM, or high-bandwidth memory, demand inflections to come. He highlighted Nvidia as one of the few semiconductor leaders that screen attractively in earnings power for 2025.

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