SunTrust analyst William Stein raised his price target on Nvidia to $240 and kept his Buy rating after its Q3 earnings beat, noting that the company's outlook for Data Center business only "hints" at the inflection that is to come in 2020. The analyst states that the management's commentary on Data Center also aligns with his industry contacts signalling "significant re-acceleration". Stein maintains his long-term positive view on Nvidia fundamentals, including its superior positioning in gaming, server acceleration, and autonomous driving opportunities. The analyst adds that while the stock trades at a robust earnings multiple of 30-times, the valuation is still at a 10-point discount to its high-growth peers.

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."