Benchmark analyst Ruben Roy raised his price target on Nvidia shares to $240 from $210 following the company's Q3 report, stating that he believes the company is uniquely positioned to grow at a faster compound annual growth rate than semiconductor peers given its industry leading GPUs and their increasing use across a number of growth markets. Roy, who was encouraged to see sequential recovery in the data center, expects the segment to recover "strongly" in 2020, he added. Roy keeps a Buy rating on Nvidia shares.

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Barclays analyst Tom O'Malley raised the firm's price target on Broadcom (AVGO) to $1,500 from $1,405 and keeps an Overweight rating on the shares after hosting management for meetings. Broadcom is one of the unique companies that has a comprehensive view of the semis industry while also capable of providing an "intimate look" at the artificial intelligence market via custom silicon, the analyst tells investors in a research note. The firm says management highlighted the company's inroads with the consumer-facing AI world, providing a differing viewpoint versus Nvidia's (NVDA) vision of the world - pointing to a two-part market of consumer and enterprise that could grow to a 50/50 split over time. Barclays came away from the meetings "with a valuable second opinion on the future of AI and a greater appreciation for the company's many ways to win."