Rosenblatt Securities analyst Hans Mosesmann issued a Buy rating on shares of Nvidia Corporation (NASDAQ:NVDA) with a price target of $140, as the semiconductor giant’s annual GPU Technology Conference kicked off yesterday. The GPU, also called GTC, is the largest and most crucial conference of the year for developers, as it features the most important work in the industry, such as artificial intelligence, virtual reality, autonomous driving, acceleration and many more.

“It is difficult to keep pace with Nvidia’s GPU innovation cadence given GPU scale, the fact that CUDA software/compiler has become a defacto standard in GPGPU deployment, and secular trend of GPUs being used in more and more applications (green field for Nvidia).  Unlike competitors, Nvidia doesn’t need to make big acquisitions to play the game and it now common for new customers call on Nvidia for help,” bullishly affirms the analyst. “We expect the new Volta GPU to be play an important part of GTC with perhaps early silicon being demo’d,” he adds.

Mosesmann asserts “There is simply no better story in the world of semis in terms of secular growth rates and margin expansion as a result of the company being a pure-play in AI.”

According to TipRanks, Hans Mosesmann is ranked #522 out of #4567 analysts. Mosesmann has a 55% success rate and generates an annual yield of 9.5%. When recommending NVDA shares, the analyst earns a 41.8% average profit on the stock.

TipRanks analytics show NVDA as a Moderate Buy. Based on 20 analysts offering recommendations, 13 issue a Buy, 3 maintain a Hold, and 4 recommend to Sell. The 12-month average price target stands at $118, making a nearly 15% upside from where the stock is currently trading.