Some of the market's best performers last year had one thing in common. They were already well acquainted with the vast potential of artificial intelligence (AI) and have since become known jointly as the "Magnificent Seven." The group has continued its market-beating ways in 2024, rising 88%, on average, so far this year (as of Monday afternoon).

One Wall Street analyst believes the best-performing member of this group still has upside ahead.

Nvidia (NASDAQ: NVDA) has been a clear winner in the AI revolution. The stock is up 257% over the past year, leaving investors to wonder when it will run out of steam. TD Cowen analyst Matthew Ramsay believes there's more to come, raising Nvidia's price target to $1,100 while maintaining an outperform (buy) rating on the shares. That represents a potential upside for investors of 15% compared to the stock's price Monday afternoon.

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Source Fool.com