Nvidia Stock Has 40% Upside, According to 1 Wall Street Analyst. Is the Stock a Buy Near Its All-Time High?
There's little question that Nvidia (NASDAQ: NVDA) has become the standard bearer for the possibilities resulting from recent developments in artificial intelligence (AI). The company's cutting-edge processors are the gold standard for use with AI models, which has supercharged its stock and helped it surge more than 500% since the start of 2023.
One Wall Street analyst believes there's still much more stock price appreciation to come.
Analysts at Truist Financial raised their price target on Nvidia to $1,177 while maintaining a buy rating on the shares. That represents a potential gain of 33% over the next 12 months or so compared to the stock price when the market closed on Monday. The Truist analyst said investors are underestimating Nvidia's leading position in parallel computing and AI.
Source Fool.com
