1 Wall Street Firm Thinks Nvidia Stock Is Heading to $150. Is It a Buy Around 127?

No artificial intelligence (AI) stock is hotter and more influential than Nvidia (NASDAQ: NVDA) right now. The company's share price has rocketed 155% higher across 2024's trading, and the company continues to have an outsize impact on valuation trends in the AI space and the market at large.In a note published last Friday, Evercore ISI maintained a buy rating on Nvidia stock and raised its price target from $145 per share to $150 per share. Based on the stock's price of roughly $127 per share as I write this, the new price target suggests potential upside of roughly 18%. Should investors take the firm's advice and buy Nvidia stock right now? Citing strong demand from hyperscale cloud customers including Microsoft and Meta Platforms, Evercore thinks that Nvidia is poised to continue serving up strong performance. The company's graphics processing units (GPUs) have become foundational hardware for advanced AI training and inference applications, and the firm's analysts anticipate that the AI hardware leader will continue to benefit from demand trends in the second half of the year.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool